1. Marginal cost is

A) the incremental change in TC.
B) the change in TC / the change in Q.
C) the additional cost from each additional Q produced.
D) equal to the change in TC as long as the change in Q is equal to one.
E) all of the above answers are correct.

2. Which answer is INCORRECT?

When MC is

A) below MR the monopoly should produce more units of output.
B) falling, this is increasing marginal returns.
C) rising, this is decreasing marginal returns.
D) equal to MR, this is the profit-maximizing P.
E) above MR, the monopoly should produce fewer units of output.

3. The profit-maximizing quantity that a single-price discriminating monopoly is determined where

A) TR is the greatest.
B) MR crosses the x axis.
C) MR = MC.
D) the monopoly charges the highest price the market will bear.
E) all of the above answers are correct.