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Social Science Clinic => Economics => Topic started by: BRWH on Jun 29, 2018

Title: For the unregulated, single-price monopoly shown in the figure above, when its profit is maximized, ...
Post by: BRWH on Jun 29, 2018

For the unregulated, single-price monopoly shown in the figure above, when its profit is maximized, output will be
 
  A) 4 units per year and the price will be 6.
  B) 4 units per year and the price will be 4.
  C) 6 units per year and the price will be 4.
  D) None of the above answers is correct.

Question 2

For which of the following pairs of goods is the cross elasticity of demand positive?
 
  A) tennis balls and tennis rackets
  B) videotapes and laundry detergent
  C) airline trips and textbooks
  D) beef and chicken

Title: For the unregulated, single-price monopoly shown in the figure above, when its profit is maximized, ...
Post by: kishoreddi on Jun 29, 2018

Answer to Question 1

A

Answer to Question 2

D