1. For a price searching firm it's marginal revenue curve (a). Is below it's marginal cost curve (b). Must be vertical (c). Must be horizontal (d). Is below it's a demand curve
1. For a
(a). Is below it's marginal cost curve
(b). Must be vertical
(c). Must be horizontal
(d). Is below it's a demand curve
2. The most common source of illegal
(a). Predatory pricing
(b). Intellectual property rights
(c). Royal edict
(d). Natural monopoly
3. The market demand is given by p= 420-0.05Q, vrp is the price of the good and Q is the quantity demanded at that price. The monopolist marginal revenue function in this market is
(a). MR= 210-0.05Q
(b). MR= 420-0.05Q
(c). MR= 420- 0.025Q
(d). MR= 420-0.1Q
4. In the monopolized ( profit maximizing)
(a). The
(b). The total value of the good is maximized
(c). The equilibrium is Marshall inefficient
(d). The market price is equal to the market quantity
5. The market demand is given Q= 440-40P, where P is the price of the good and Q is the quantity demanded at that price the monopolist marginal revenue is equal to 0 when
(a). P= 11
(b). Q= 440
(c). Q= 11
(d). Q= 220
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