Author Question: If a monopolist must lower the price on all units in order to sell an additional unit, a. it is ... (Read 106 times)

KWilfred · **on:** Jun 30, 2018

If a monopolist must lower the price on all units in order to sell an additional unit,
a. it is impossible for the monopolist to maximize profit
b. the monopolist will always lose profit when it increases quantity
c. the monopolist will always lose revenue when it increases quantity
d. price will always be greater than marginal revenue
e. price will always be less than marginal revenue

Question 2

Compared to the pay increase from just a third year of college, the actual pay increase resulting from a fourth year that results in graduation is
a. several times smaller
b. the same
c. only very slightly greater
d. several times greater
e. No economist has ever studied this issue