1. Which of the following is a characteristc of a puremonopolist\'s demand curve

Question

1. Which of the following is a characteristc of a puremonopolist's demand curve? A. Average revenue is less than price. B. Its elasticity coefficientis 1 at al levels ofoutput. C. Price and marginal revenue are equal a all levels ofoutput. D. It s the same as themarket demand curve. 2. The pure monopolist's demand curve is relativelyelastic: A. in the price range where total revenue is declining. B. at all points where the demand curve lies above thehorizontal axis. C. in the price range where marginal revenue isnegative. D. in the price range where marginal revenue ispositive. 1. Which of the following is a characteristc of a puremonopolist's demand curve? A. Average revenue is less than price. B. Its elasticity coefficientis 1 at al levels ofoutput. C. Price and marginal revenue are equal a all levels ofoutput. D. It s the same as themarket demand curve. 2. The pure monopolist's demand curve is relativelyelastic: A. in the price range where total revenue is declining. B. at all points where the demand curve lies above thehorizontal axis. C. in the price range where marginal revenue isnegative. D. in the price range where marginal revenue ispositive.

Explanation / Answer

1. Which of the following is a characteristc of a puremonopolist's demand curve? A. Average revenue is less than price. B. Its elasticity coefficientis 1 at al levels ofoutput. C. Price and marginal revenue are equal a all levels ofoutput. D. It s the same as the market demandcurve.- both downsloping 2. The pure monopolist's demand curve is relativelyelastic: A. in the price range where total revenue is declining. B. at all points where the demand curve lies above thehorizontal axis. C. in the price range where marginal revenue isnegative. D. in the price range where marginal revenueis positive.- below would be inelastic because it will not do muchbecause suppliers would not want to produce anymore thus peoplecannot really buy the goods

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