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Question
For a monopolist, the marginal revenue gained when one more unit of output is sold is
A) the price at which the extra unit is sold minus the loss in revenue that results from cutting
the price on units sold previously.
B) equal to the price of the product.
C) negative if price is above the midpoint of the demand curve.
D) the average revenue created by the increased sales.
Answer
This answer is hidden. It contains 1 characters.
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