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Author Question: A monopolist faces a downward sloping demand curve that is equal to which of the following? a. The ... (Read 42 times)

Wadzanai

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on: Jun 30, 2018
A monopolist faces a downward sloping demand curve that is equal to which of the following?
 a. The prevailing market price.
  b. The market demand curve.
  c. Its marginal cost curve.
  d. Marginal revenue.

Question 2

As consumption of a good increases, the extra satisfaction received from consuming an additional unit of the good decreases. This statement is known as the law of:
 a. demand.
  b. increasing costs.
  c. diminishing marginal utility.
  d. diminishing marginal returns.
  e. total utility.


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amy.lauersdorf90

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

c


Wadzanai

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Reply #2 on: Jun 30, 2018
Correct answers!


amy.lauersdorf90

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Reply #3 on: Jun 30, 2018
Great! Please up vote :D


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