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Author Question: The demand curve facing a single-price monopolist slopes downward because (Read 76 times)

vowens

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Question 1

The figure below shows the demand schedule and demand curve for a product produced by a single-price monopolist.



FIGURE 10-1

Refer to Figure 10-1. What is the change in total revenue for this firm as it increases output from 5 units to 6 units?


◦ $10
◦ $0
◦ $12
◦ -$2
◦ $2

Question 2

The demand curve facing a single-price monopolist slopes downward because
◦ demand is perfectly inelastic.
◦ its average revenue equals its marginal revenue.
◦ it sells typically to only one consumer.
◦ its demand curve is the market demand curve, which is generally downward sloping.
◦ its supply curve is upward sloping.


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Marked as best answer by vowens on Oct 12, 2022

breounasmoot

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vowens

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Reply 2 on: Oct 12, 2022
Excellent


Viet Thy

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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