All of the Following Are True About a Monopolist Except

question 42

Multiple Choice

All of the following are true about a monopolist except:

• A)Average and marginal revenues are not the same.
• B)Marginal revenue is greater than price.
• C)Marginal revenue decreases with increases in output.
• D)Marginal revenue can be negative.

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Definitions:

Amartya Sen

An Indian economist and philosopher, born in 1933, who is known for his work on welfare economics, social choice theory, and economic and social justice.

Famine

An extreme scarcity of food that leads to widespread hunger, malnutrition, and mortality in a population.

Inequality of Access

The uneven distribution of resources or opportunities to utilize services or goods among different populations or groups.

Total Fertility Rate

An estimate of the average number of children a woman will have over her reproductive lifetime.