There are 100 points on this exam. Please print your name clearly and sign your name in the space below. Many consumers think the market price of good A is greater than its cost. Many consumers think the price elasticity of demand for good A is unit elastic. Demand is negatively sloped.
Marginal revenue is always less than price.
It is a price taker. Marginal revenue is negatively sloped. A hamburger to go. Local telephone services. The firms can set price.