According to Schumpeter ?

Related Mcqs:

The inefficiency associated with monopoly is due to ?

A. underproduction of the good B. the monopoly’s profits C. the monopoly’s losses D. overproduction of the good...

The monopolist’s supply curve ?

A. does not exist B. is the marginal cost curve above average variable cost? C. is the marginal cost curve above average total cost D. is the upward-sloping portion of the average total cost curve E. The upward-sloping portion of the average variable cost...

The marginal revenue curve in monopoly ?

A. Equals the demand curve B. Is parallel with the demand curve C. Lies below and converges with the demand curve D. Lies below and diverges from the demand curve...

If a marginal revenue exceeds marginal cost, a monopolists should?

A. increase should B. decrease output C. keep output the same because profits are maximized when marginal revenue exceeds marginal cost D. raise the price...

In pure monopoly, what is the relation between the price and the marginal revenue ?

A. the price is greater than the marginal revenue B. the price is less than the marginal revenue C. there is no relation D. they are equal...