A non-discriminating monopolist is selling 6 units at a price of $12. If the marginal revenue...
A non-discriminating monopolist is selling 6 units at a price of $12. If the marginal revenue of the seventh unit is $5, then:
| price of the seventh unit is $10. |
| price of the seventh unit is $11. |
| price of the seventh unit is greater than $12. |
| price of the seventh unit is $5. |
Assuming the demand curve that a pure monopolist faces is downward-sloping, its total revenue:
| is rising. |
| is falling. |
| may be either rising or falling. |
| must be negative. |
Homework Answers
Question:- A non-discriminating monopolist is selling 6 units at a price of $12. If the marginal revenue of the seventh unit is $5, then
Correct Answer:- price of the seventh unit is $11.
Question:- Assuming the demand curve that a pure monopolist faces is downward-sloping, its total revenue:
Correct Answer:- may be either rising or falling.
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