If a Single-Price Monopolist Has to Lower Price to Sell

question 112

Multiple Choice

If a single-price monopolist has to lower price to sell an additional unit of its good, and it charges the same price for all units of its good, it follows that

• A)its demand curve will be its marginal revenue curve.
• B)it will maximize profits by maximizing revenue.
• C)it will sell its good for a price above average total cost.
• D)b and c
• E)none of the above

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Definitions:

Fixed Costs

Costs that remain constant regardless of the amount of goods produced or sold, including expenses like rental fees, wages, and insurance payments.

Peak-period Demand

The highest level of demand for a product or service, typically occurring during specific periods due to various factors.

Maintenance Department

A division within an organization dedicated to the upkeep and repair of facilities, machinery, and equipment to ensure operational efficiency.

Operating Divisions

Subsections within a company, each responsible for certain functions or geographic areas, contributing to the company's overall business operations.