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Loraine Loraine
wrote...
Posts: 4563
8 years ago
For a single-price monopoly,
A) if marginal cost exceeds marginal revenue, profits will increase if output decreases.
B) if marginal revenue exceeds marginal cost, profits will increase if output decreases.
C) there are several different price and output combinations that maximize profit.
D) marginal revenue will be greater than price if demand is elastic.
E) marginal revenue will be greater than price if demand is inelastic.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
Read 172 times
2 Replies
Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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SmooothSmoooth
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8 years ago
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8 years ago
My pleasure Happy Dummy
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