Micro Economics help!?

14.The profit-maximizing monopolist will operate in a price range over which A)supply is elastic. B)demand is elastic. C)the price elasticity of demand is less than 1. D)demand is inelastic. 15.For a profit-maximizing monopolist, A)P = MR. B)P = MC. C)P > MC. D)P = ATC. 16.A monopolist engages... show more 14.The profit-maximizing monopolist will operate in a price range over which

A)supply is elastic.

B)demand is elastic.

C)the price elasticity of demand is less than 1.

D)demand is inelastic.

15.For a profit-maximizing monopolist,

A)P = MR.

B)P = MC.

C)P > MC.

D)P = ATC.

16.A monopolist engages in price discrimination

A)by charging a higher price when marginal cost is lower.

B)by charging a higher price to consumers whose demand is more elastic.

C)by charging the same price to all consumers.

D)by charging a lower price to consumers whose demand is more elastic.

17.Economic inefficiency of a monopoly is indicated by

A)MR = MC.

B)P = ATCmin.

C)P > MR.

D)P > MC.

18.The main objective of advertising for a monopolistically competitive firm is

A)to earn long run profits.

B)to reduce cost.

C)to differentiate the product and boost demand.

D)none of the above.
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