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    Economics Chapter 10 Flashcards | Quizlet A monopolist follows the same profit-maxi-mizing rule as a firm in a competitive mar-ket: produce until marginal cost equals marginal revenue. As prices go down, the monopolist gains more customers.At the same time, this lowers the revenue from.

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Terms in this set (30) money. anything that serves as a medium of exchange, a unit of account, and a store of value. medium of exchange. anything that is used to determine value during the exchange of goods and services. barter. the direct exchange of one set of goods or services for another. unit of account.

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