Author Question: A firm facing a downward-sloping demand curve sells 50 units of output at 10 each. The firm's ... (Read 33 times)

xclash · **on:** Jun 30, 2018

A firm facing a downward-sloping demand curve sells 50 units of output at 10 each. The firm's marginal revenue is
a. 500
b. more than 10 but less than 500
c. 10
d. less than 10
e. zero

Question 2

A natural monopoly, such as the local telephone company, is characterized by
a. a lack of natural competitors
b. low fixed costs and diseconomies of scale
c. economies of scale
d. a lack of government regulation
e. constant costs of production