Microecon CLEP and Peterson's

[Mian]

I'm wondering how the Peterson's practice tests compare to the CLEP, can anyone give me any insight on that? I scored 70% and 78% on two of the Peterson's tests. I thought the Peterson's tests were difficult. Is the CLEP at the same level of difficulty? I'm not sure if that means I'm ready or not. I want to finish this one and pass, I'm so sick of studying for it. :nopity:

[MA2]

If you scored that high on Peterson's you could probably take the real CLEP and get at least a 65 o_0

[Mian]

This is from a question on the Peterson's test which is bugging me. Can anyone explain to me why they say the answer to this is D rather than E? Could this be a mistake on the Peterson's tests? This is from test 2 #48.

[COLOR="Navy"]A monopoly's marginal cost will likely

a. exceed its marginal revenue.
b. equal average total cost.
c. be less than average fixed cost.
d. be less than average variable cost.
e. be less than the market price of its goods.

The correct answer is D. The monopolist uses the market demand (or price) curve as its demand curve, and thus the marginal revenue curve is also downward sloping and less than the price (curve). A profit maximizer, the monopolist sets marginal revenue equal to marginal cost, which is less than the market price.[/COLOR]

[Mian]

Cool. I think I'll schedule it for the coming week.