Assuming That All Consumers Pay the Same Price for a Good

question 91

Multiple Choice

Assuming that all consumers pay the same price for a good or service, in a monopoly, price is _____ than marginal revenue for everything sold after the first one.

• A) less than
• B) greater than
• C) equal to
• D) first greater and then less

---

Definitions:

Elder Law

A relatively new legal specialty that involves serving the needs of older clients, such as estate planning and long-term care arrangements.

Estate-Planning

The process of organizing and managing an individual's assets for transfer after death, including the creation of wills and trusts.

Long-Term Care

A range of services and supports to meet health or personal care needs over an extended period of time, often for the elderly or disabled.

Elderly Patients

Individuals of advanced age who are receiving medical care or treatment.