for a single price monopolist, marginal revenue is less than price because select one a) the revenue gain from the last unit sold is offset by a revenue loss on the units that previously had been sold at a higher price b) the revenue gain from the last unit sold is offset by further gains in price on units not sold at all c)the price does not have to be lowered on all previous units sold d) the total revenue always decreases as output increases
for a single price monopolist, marginal revenue is less than price because select one a) the revenue gain from the last unit sold is offset by a revenue loss on the units that previously had been sold at a higher price b) the revenue gain from the last unit sold is offset by further gains in price on units not sold at all c)the price does not have to be lowered on all previous units sold d) the total revenue always decreases as output increases
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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for a single price monopolist, marginal revenue is less than price because
select one
a) the revenue gain from the last unit sold is offset by a revenue loss on the units that previously had been sold at a higher price
b) the revenue gain from the last unit sold is offset by further gains in price on units not sold at all
c)the price does not have to be lowered on all previous units sold
d) the total revenue always decreases as output increases
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