The vertical distance between the horizontal axis and any point on a nondiscriminating monopolist's demand curve measures
A)the quantity demanded.
B)product price and marginal revenue.
C)total revenue.
D)product price and average revenue.

Question

Quizplus · Accepted Answer

The vertical distance between the horizontal axis and any point on a nondiscriminating monopolist's demand curve measures the product price and average revenue, as both are determined by the price at which the product is sold at different quantities.

The Vertical Distance Between the Horizontal Axis and Any Point