Question: 6 ) Wendell can sell five motor homes per week at a price of $ 2 2 , 0 0 0 . If he lowers
Wendell can sell five motor homes per week at a
price of $ If he lowers the price of motor
homes to $ per week he will sell six motor
homes. What is the marginal revenue of the sixth
motor home?
A $
B $
C $
D $
If a monopolist's price is $ at units of output
and average total cost equals $ then at this price,
the firm's total profit is
A $
B $
C $
D $
Which of the following is true about the demand
for a monopolist versus a firm in pure competition?
A The demand is horizontal for a monopolist because
price is the set by the market.
B The demand is downward sloped for a monopolist
because the monopolist can sell more units by
lowering its price.
C The demand is downwardsloped for pure
competition because firms are price takers, and their
quantity of sales may not affect price.
D The demand is horizontal for a monopolist because
the monopolist can sell more units by lowering its
price.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
