Economics 12E - Arnold - TB_226 - NATIONAL STANDARDS United States BUSPROG Analytic LOCAL STANDARDS United States OH Default City DISC Monopoly KEYWORDS

Economics 12E - Arnold - TB_226 - NATIONAL STANDARDS United...

This preview shows page 1 - 3 out of 5 pages.

NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Monopoly KEYWORDS: Bloom's: Comprehension 144. Which of the following statements is true? a. For a monopoly firm, its marginal revenue curve and demand curve share two points in common.b. A monopoly firm is a price taker; it takes the price government sets.c. A firm that maximizes revenue automatically maximizes profit.d. Maximizing revenues is the same as maximizing profits only when the firm has no variable costs.e. a and dANSWER: d POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Monopoly KEYWORDS: Bloom's: Comprehension 145. Both a price taker and a price searcher maximize profits (or minimize losses) by producingthe quantity of output at which __________ equals __________. POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Monopoly KEYWORDS: Bloom's: Comprehension 146. Since price __________ for a monopoly firm, the profit-maximizing monopoly firm doesnot produce the quantity of output for which price equals marginal cost.
Image of page 1

Subscribe to view the full document.

POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Monopoly KEYWORDS: Bloom's: Comprehension
Image of page 2
Image of page 3

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask bonus questions You can ask questions ( expire soon) You can ask questions (will expire )
Answers in as fast as 15 minutes