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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 103 times)

Wadzanai

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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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Answer to Question 1

b

Answer to Question 2

c





 

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