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Author Question: For a monopoly, marginal revenue is less than price because A) the demand for the firm's output ... (Read 44 times)

ghost!

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  • Posts: 560
on: Jul 1, 2018
For a monopoly, marginal revenue is less than price because
 
  A) the demand for the firm's output is downward sloping.
  B) the firm has no supply curve.
  C) the firm can sell all of its output at any price.
  D) the demand for the firm's output is perfectly elastic.

Question 2

The learning curve is the relationship between
 
  A) returns to scale and cumulative costs.
  B) marginal costs and current output.
  C) marginal product of labor and current output.
  D) average costs and cumulative output.


adammoses97

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

D


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