Principles of Economics Study Set 4
Quiz 8: Monopoly, Oligopoly, and Monopolistic Competition
If the Demand Curve Facing the Monopolist Is Price =
If the demand curve facing the monopolist is Price = 70 - 14 × Q,then the slope of its marginal revenue curve is: A)-28. B)-14. C)-7. D)-1.
Explore answers and all related questions
Because the monopolist charges a price in excess of marginal costs,it must be the case that the monopolist: A)earns an excessive profit. B)exploits the consumers who do make a purchase. C)fails to equate the benefits to the costs of the last unit produced. D)produces less than the socially efficient level of output.
When marginal revenues are zero: A)profits are maximized. B)total costs are minimized. C)elasticity of demand is zero. D)total revenue is maximized.
The monopolist will maximize profits if it produces where: A)price equals marginal costs. B)price equals the minimum average total cost. C)marginal revenue equals average total cost. D)marginal revenue equals marginal cost.
Explore all questions
How it work
Terms And Conditions
© 2020 QuizPlus. All Right Reserved