Suppose a Firm Has a Monopoly on the Sale of a Computer

question 330

Multiple Choice

Suppose a firm has a monopoly on the sale of a computer game and faces a downward-sloping demand curve.When selling the 50^th game,the firm will always receive

• A) less marginal revenue on the 50^th game than it received on the 49^th game.
• B) more average revenue on the 50^th game than it received on the 49^th game.
• C) more total revenue on the 50 game than it received on the first 49 game.
• D) Both b)and c)are correct.

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Definitions:

Manufacturing Economy

An economy that is primarily based on the production and export of manufactured goods.

Union Organizing

The process by which workers and labor unions work together to form or join a union in order to negotiate collectively with their employers regarding wages, hours, benefits, and working conditions.

Work Time

The duration or period during which an employee is considered to be on duty or performing activities related to their job.

Strikes

Work stoppages initiated by employees to press for better wages, conditions, or other labor issues.