Author Question: An unregulated, single-price monopoly is shown in the figure above. If its fixed cost is 20, the ... (Read 145 times)

Themember4 · **on:** Jun 29, 2018

An unregulated, single-price monopoly is shown in the figure above. If its fixed cost is 20, the monopoly's total economic profit when it is maximizing its profit will be

A) negative.
B) 0.
C) 25.
D) 50.

Question 2

If a 1 percent decrease in the price of a pound of oranges results in a smaller percentage decrease in the quantity supplied

A) demand is elastic.
B) demand is inelastic.
C) supply is elastic.
D) supply is inelastic.