If a monopoly is operating on the demand curve where price ...

[sammy]

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

[jordangronback]

Answer to Question 1

A

Answer to Question 2

D

[sammy]

YES! Correct, THANKS for helping me on my review

[AngeliqueG]

Thanks for the timely response, appreciate it