For a Single-Price Monopoly

question 219

Multiple Choice

For a single-price monopoly,

• A) if marginal cost exceeds marginal revenue, profits will increase if output decreases.
• B) if marginal revenue exceeds marginal cost, profits will increase if output decreases.
• C) there are several different price and output combinations that maximize profit.
• D) marginal revenue will be greater than price if demand is elastic.
• E) marginal revenue will be greater than price if demand is inelastic.

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Definitions:

Gametic Isolation

A type of reproductive barrier where gametes (sperm and egg) of different species fail to meet or fuse, preventing gene flow between the species.

Open Water

Large bodies of water such as oceans, seas, and large lakes, where there is no nearby land within sight.

Gametes

Mature haploid sex cells, such as sperm and eggs, that unite to form a diploid zygote during sexual reproduction.

Reproductive Isolation

The end of gene flow between populations; part of speciation.