According to the characteristics of different markets, for a monopolist, marginal revenue is Group of answer...
According to the characteristics of different markets, for a monopolist, marginal revenue is
Group of answer choices
constant up to the rate of output that maximizes total revenues.
equal to price, just as it is for a perfectly competitive firm.
the same as the demand curve.
always less than price, after the first unit.
Homework Answers
For a monopolist the marginal revenue is lower than the price and so more units of the product are bought.
MR equal to price in perfect competitive market.
So option D is the correct statement
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According to the characteristics of different markets, for a
monopolist, marginal revenue is
Group of answer...
30. The change in total revenue that results fr A. Marginal cost. B, Marginal revenue C....
30. The change in total revenue that results fr A. Marginal cost. B, Marginal revenue C. Marginal profit. D. Total revenue erease in qipntity sold is: 31. For a monopolist, marginal revenue is A. Equal to price, just as it is for a perfectly competitiy B. Constant up to the rate of output that maximizes tot i C. Always less than price, after the first unit. D. The same as the demand curve. loral 32. For a monopolist, after the...
A certain monopolist has a positive marginal cost of production. Despite this fact, the monopolist decides...
A certain monopolist has a positive marginal cost of production. Despite this fact, the monopolist decides to produce a quantity of output that maximizes total revenues. Assume that the marginal revenue curve for this monopolist always has a negative slope. Then the monopolist Group of answer choices is minimizing its profits. produces less output than it would if it maximized profits. produces the same output that it would if it maximized profits. produces an output where marginal revenue is strictly...
1. A cartel is a group of firms that attempts to a. maximize joint revenue. b....
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marginal revenue A monopolist maximizes profit by choosing the quantity at which marginal revenue equals at...
marginal revenue A monopolist maximizes profit by choosing the quantity at which marginal revenue equals at that quantity because the demand curve is above the marginal-revenue curve. Profit equals mulitplied by the profit-maximizing quantity Price is and marginal cost average variable cost average cost marginal revenue. A monopolist maximizes profit by choosing the quantity at which marginal revenue equals Price is at that quantity because the demand curve is above the marginal-revenue curve. Profit equals the difference between the price...
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Firms have several different concepts of revenue: total revenue, average revenue, marginal revenue, and price. For...
Firms have several different concepts of revenue: total revenue, average revenue, marginal revenue, and price. For a profit-maximizing perfectly competitive firm, which statement below is true? a. Only marginal revenue and price are equal b. Only average revenue and price are equal. OC Total revenue, average revenue, marginal revenue, and price are all equal d. None of these revenues are equal e. Average revenue, marginal revenue, and price are equal
Scenario A: A monopolist faces the following demand curve, marginal revenue curve, total cost curve for...
Scenario A: A monopolist faces the following demand curve, marginal revenue curve, total cost curve for its product: Q=3500-5p MR= 250-Q TC=15Q MC=100 What level of output maximizes total revenue? What is the profit maximizing level of output? What is profit maximizing price? How much profit does the monopolist earn? Suppose that a tax of $10 for each unit produced is imposed by state government. What is the profit maximizing level of output
A: A monopolist faces the following demand curve, marginal revenue curve, total cost curve for its...
A: A monopolist faces the following demand curve, marginal revenue curve, total cost curve for its product: Q=3500-5p MR= 250-Q TC=15Q MC=100 What level of output maximizes total revenue? What is the profit-maximizing level of output? What is the profit-maximizing price? How much profit does the monopolist earn? Suppose that a tax of $10 for each unit produced is imposed by the state government. What is the profit-maximizing level of output?
7. How is monopoly different from perfect competition? 8. What is a barrier to entry? Give...
7. How is monopoly different from perfect competition? 8. What is a barrier to entry? Give some examples. 9. What is a natural monopoly? 11. What is predatory pricing? 14. In what sense is a natural monopoly “natural”? 15. How is the demand curve perceived by a perfectly competitive firm different from the demand curve perceived by a monopolist? 16. How does the demand curve perceived by a monopolist compare with the market demand curve? 17. Is a monopolist a...
Statement 1: For a monopoly firm, the marginal revenue curve is the same as the demand...
Statement 1: For a monopoly firm, the marginal revenue curve is the same as the demand curve for its product. Statement 2: A monopolist uses the same profit maximization rule that the perfectly competitive firm uses. Both statements (1) and (2) are false. Both statements (1) and (2) are true. Statement (1) is true; statement (2) is false. Statement (1) is false; statement (2) is true. Which of the following is TRUE of the model of perfect competition? There are...
30. The change in total revenue that results fr A. Marginal cost. B, Marginal revenue C. Marginal profit. D. Total revenue erease in qipntity sold is: 31. For a monopolist, marginal revenue is A. Equal to price, just as it is for a perfectly competitiy B. Constant up to the rate of output that maximizes tot i C. Always less than price, after the first unit. D. The same as the demand curve. loral 32. For a monopolist, after the...
marginal revenue A monopolist maximizes profit by choosing the quantity at which marginal revenue equals at that quantity because the demand curve is above the marginal-revenue curve. Profit equals mulitplied by the profit-maximizing quantity Price is and marginal cost average variable cost average cost marginal revenue. A monopolist maximizes profit by choosing the quantity at which marginal revenue equals Price is at that quantity because the demand curve is above the marginal-revenue curve. Profit equals the difference between the price...
Firms have several different concepts of revenue: total revenue, average revenue, marginal revenue, and price. For a profit-maximizing perfectly competitive firm, which statement below is true? a. Only marginal revenue and price are equal b. Only average revenue and price are equal. OC Total revenue, average revenue, marginal revenue, and price are all equal d. None of these revenues are equal e. Average revenue, marginal revenue, and price are equal
Scenario A: A monopolist faces the following demand curve, marginal revenue curve, total cost curve for its product: Q=3500-5p MR= 250-Q TC=15Q MC=100 What level of output maximizes total revenue? What is the profit maximizing level of output? What is profit maximizing price? How much profit does the monopolist earn? Suppose that a tax of $10 for each unit produced is imposed by state government. What is the profit maximizing level of output
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