Author Question: If a monopoly is operating on the demand curve where price elasticity is equal to -3, and MR equals ... (Read 34 times)

sammy · **on:** Jul 1, 2018

If a monopoly is operating on the demand curve where price elasticity is equal to -3, and MR equals 2, then price is equal to

A) 3.
B) 2.
C) 1.
D) 0.

Question 2

Monopoly is characterized by

A) unique products.
B) market entry and exit are difficult or impossible.
C) non-price competition not necessary.
D) All of the above