Ask Question
BusinessBusiness
9 February, 18:28

Other things being equal, the marginal revenue product (MRP) curve for a competitive seller:4) A) is identical to the MRP curve for a monopolist. B) lies above the MRP curve for a monopolist. C) is upward sloping whereas a monopolist has a downward sloping MRP curve. D) lies below the MRP curve for a monopolist.

+4
Answers (1)
  1. 9 February, 18:56
    0
    The correct answer is B) lies above MRP curve for a monopolist.

    Explanation:

    Marginal revenue is the increase in total revenue when one more unit of product is sold. Since this unit is sold at the market price, for a company in free competition the marginal revenue is equal to the price.

    It can be kept constant, but it is normal for it to follow the law of diminishing returns and the more units produced, the lower the marginal revenue. It will be profitable for a firm to produce more units even though marginal revenue is decreasing until it equals marginal cost. Marginal revenue is calculated by dividing the change in total revenue by the number of additional units.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Other things being equal, the marginal revenue product (MRP) curve for a competitive seller:4) A) is identical to the MRP curve for a ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Lansing Company is owned equally by Jennifer, her husband Dan, and DeWitt Corporation, which is owned 50 percent by Jennifer and her sister Jane. Each of the three shareholders holds 100 shares in the company.
Answers (1)
On which group will a progressive tax place a greater tax burden? a. poor citizens b. politicians c. middle-class citizens d. wealthy citizens
Answers (1)
Angelica and Celeste invested all their savings in a small pizzeria they opened outside the University of Missouri. They operated the business as a general partnership.
Answers (2)
Suppose you are the owner of a small t-shirt printing business. While conducting a cost analysis of your business, you find that at current production levels, your average total cost (ATC) is $10.
Answers (1)
Which option describes creative thinking most accurately?
Answers (1)
New Questions in Business
Menu costs refers to a. the distortion in incentives created by inflation when taxes do not adjust for inflation. b. resources used by people to maintain lower money holdings when inflation is high. c.
Answers (1)
Consider once again the project with the cash flows described below. Determine whether this is a simple or non - simple investment AND how many possible values of i * exist using the Accumulated Cash Flow Sign Test.
Answers (1)
Which of the following goods best fit the characteristics of a private good? a. national defense b. fire protection c. an ice-cream cone d. a professor giving a lecture in a large classroom e. disease prevention
Answers (1)
Zwick Company bought 26,500 shares of the voting common stock of Handy Corporation in January 2018. In December, Handy announced $ 205,200 net income for 2018 and declared and paid a cash dividend of $ 6 per share on all 203,000 shares of its
Answers (1)
Movie studios use market research to reduce their risk of losses by hiring firms such as the National Research Group to conduct test screenings and tracking studies.
Answers (1)
Home » Business » Other things being equal, the marginal revenue product (MRP) curve for a competitive seller:4) A) is identical to the MRP curve for a monopolist. B) lies above the MRP curve for a monopolist.
Sign Up Forgot Password?