Which of the Following Is NOT Correct About a Single-Price

question 171

Multiple Choice

Which of the following is NOT correct about a single-price monopoly?

• A) Maximum profit is found where demand is the most inelastic.
• B) Marginal revenue is negative when demand is inelastic.
• C) Marginal revenue is positive when demand is elastic.
• D) To sell more output, the firm must lower its price.
• E) To maximize its profit, the firm produces so that marginal revenue equals marginal cost.

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Definitions:

Emancipated

Refers to being freed from legal, social, or political restrictions; commonly used in historical contexts to describe the freeing of slaves.

African Slaves

Individuals from Africa who were forcefully transported to and enslaved in various parts of the world, especially in the Americas, from the 16th to the 19th centuries.

Jim Crow

Laws and practices enforcing racial segregation and discrimination against African Americans, particularly in the southern United States, from the late 19th century to the mid-20th century.

Minstrel Shows

A form of entertainment in the 19th and early 20th centuries in America that stereotypically depicted African Americans through blackface performances.