Figure 11-2 -Since a Monopoly Faces a Downward-Sloping Demand Curve

question 213

Multiple Choice

Figure 11-2
-Since a monopoly faces a downward-sloping demand curve,

• A)then, as Adam Smith wrote, "the price of monopoly is upon every occasion the highest which can be got."
• B)price always exceeds average revenue.
• C)marginal revenue increases as output increases.
• D)the monopolist is a price maker.

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