Assume a non-price discriminating monopolist can sell 20 units of a good for 4.00 each and can sell 21 units of that good for $ 3.85 each. The marginal revenue of the 21st unit is:
举一反三
- Which of the following statements regarding a monopolist is most accurate A: A monopolist will maximize the average profit per unit sold. B: If a firm has a monopoly, it will always be able to earn economic profits. C: A monopolist, like any other profit-maximizing firm, will sell at the output level where marginal revenue equals marginal cost.
- At a price of $25, a store can sell 28 picture frames a day. If the price falls to $20, the store can sell 35 picture frames a day. Using the initial-value method, the price elasticity of demand is:
- EBay,Amazon and WalMart are popular websites_______people can sell goods to each other.
- The minimum supply price, the lowest price at which a producer is willing to supply an additional unit of a good, is: A: less than the marginal revenue for the additional unit. B: the price at which producer surplus is maximized. C: the marginal cost of producing the additional unit.
- If demand is price elastic and price decreases, then A: the extra revenue from the extra units sold is exactly offset by the loss in revenue due to the lower price B: more information is necessary to determine what happens to total revenue C: the extra revenue from the extra units sold is less than the loss in revenue from the lower price D: the extra revenue from the extra units sold exceeds the loss in revenue from the lower price