1. For a single-price monopoly, marginal revenue is
a. equal to the price for the first unit of output.
b. less than the price for all units of output after the first unit.
c. greater than price. horizontal.
d. a and b

2. The demand curve facing a monopolist is:
a) horizontal, the same as that facing a perfectly competitive firm.
b) upward sloping, the same as that facing a perfectly competitive firm.
c) downward sloping, unlike the horizontal demand curve facing a perfectly competitive firm.
d) downward sloping, the same as that facing a perfectly competitive firm.

Question

1. For a single-price monopoly, marginal revenue is
a. equal to the price for the first unit of output.
b. less than the price for all units of output after the first unit.
c. greater than price. horizontal.
d. a and b
 
 
2. The demand curve facing a monopolist is:
a) horizontal, the same as that facing a perfectly competitive firm.
b) upward sloping, the same as that facing a perfectly competitive firm.
c) downward sloping, unlike the horizontal demand curve facing a perfectly competitive firm.
d) downward sloping, the same as that facing a perfectly competitive firm.

A.total cost.
B.average total cost.
C.average variable cost.
D.average fixed cost.

A.greater than marginal cost.
B.less than marginal cost.
C.less than average variable cost.
D.greater than average total cost.

A.a product with many close substitutes.
B.a horizontal demand curve.
C.a small number of firms.
D.barriers to entry and exit.

A.$10.
B.$20
C.$200.
D.$210.

A.horizontal, the same as that facing a perfectly competitive firm.
B.downward sloping, the same as that facing a perfectly competitive firm.
C.upward sloping, the same as that facing a perfectly competitive firm.
D.downward sloping, unlike the horizontal demand curve facing a perfectly competitive firm.

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A.unregulated monopolies.
B.natural monopolies.
C.restricted-input monopolies.
D.sunk-cost monopolies.

A.is maximized.
B.can be increased by increasing the price.
C.can be increased by decreasing the price.
D.can be increased by increasing production.

A.$1.
B.$9.
C.$19.
D.$29.