This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following best explains why the monopolist's marginal revenue is less than the selling ... (Read 33 times)

a0266361136

  • Hero Member
  • *****
  • Posts: 538
on: Jun 30, 2018
Which of the following best explains why the monopolist's marginal revenue is less than the selling price?
 a. To sell more units, the monopolist must reduce price on all units sold.
  b. As the monopolist expands output, the average total cost will decline.
  c. The monopolist charges each consumer the highest possible price.
  d. When a firm has a monopoly, consumers have no choice other than to pay the price set by the monopolist.

Question 2

The law of diminishing marginal utility is the principle that the marginal utility curve ____ as people consume more of a product in a given period.
 a. rises.
  b. falls.
  c. remains unchanged.
  d. first falls and then rises.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nothere

  • Sr. Member
  • ****
  • Posts: 324
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

b


a0266361136

  • Member
  • Posts: 538
Reply 2 on: Jun 30, 2018
Excellent

EAN94

  • Member
  • Posts: 307
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Independent assortment of chromosomes at meiosis explains Mendel’s ratio Independent assortment of chromosomes at meiosis explains Mendel’s ratio
Independent assortment of chromosomes at meiosis explains Mendel’s ratio Independent assortment of chromosomes at meiosis explains Mendel’s ratio
Marginal Supply - Demand Curve Marginal Supply - Demand Curve
Marginal Products of Physical and Human Capital Marginal Products of Physical and Human Capital
A Production Function with Diminishing Marginal Product of Capital A Production Function with Diminishing Marginal Product of Capital
Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ... Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ...
Video: Introduction to Heart Attacks

For a complete list of videos, visit our video library