Describe Why Marginal Revenue Is Always Less Than Price for a Monopolist

question 46

Essay

Describe why marginal revenue is always less than price for a monopolist.

---

Definitions:

Antifriction Bearings

Bearings designed to reduce friction between moving parts by using smooth balls or rollers contained within a ring.

Ball Bearings

Ball bearings are a type of rolling-element bearing that uses balls to maintain the separation between the bearing races, reducing friction and supporting radial and axial loads.

Roller Bearings

Bearings that use cylindrical or spherical rollers positioned between two races to reduce friction and support radial and axial loads.

Needle Bearings

A type of roller bearing with long, thin cylindrical rollers resembling needles, used in applications with limited space and high load capacity.