For a Monopoly Firm, the Shape and Position of the Demand

question 581

Multiple Choice

For a monopoly firm, the shape and position of the demand curve play a role in determining the
(i) profit-maximizing price.
(ii) shape and position of the marginal-cost curve.
(iii) shape and position of the marginal-revenue curve.

• A)(i) and (ii) only
• B)(ii) and (iii) only
• C)(i) and (iii) only
• D)(i), (ii), and (iii)

Recognize how a change in the number of consumers affects market demand.

Understand how changes in consumer income affect demand for goods.

Identify the factors that lead to increases or decreases in market demand.

Comprehend how expectations about future prices affect current demand.

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