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 70 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
Thanks for the timely response, appreciate it

alexanderhamilton

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

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?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Did you know?

The top five reasons that children stay home from school are as follows: colds, stomach flu (gastroenteritis), ear infection (otitis media), pink eye (conjunctivitis), and sore throat.

A single-gene model explains Mendel’s ratios A single-gene model explains Mendel’s ratios
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
Independent assortment of chromosomes at meiosis explains Mendel’s ratio Independent assortment of chromosomes at meiosis explains Mendel’s ratio
Selling Today: Partnering to Create Value (Manning/Ahearne/Reece) Selling Today: Partnering to Create Value (Manning/Ahearne/Reece)
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Video: Membrane transport proteins - pores, gated channels and pumps

For a complete list of videos, visit our video library