This topic contains a solution. Click here to go to the answer

Author Question: An unregulated monopoly finds that its marginal cost exceeds its marginal revenue. In order to ... (Read 102 times)

Cooldude101

  • Hero Member
  • *****
  • Posts: 557
An unregulated monopoly finds that its marginal cost exceeds its marginal revenue. In order to increase its profit, the firm will
 
  A) raise its price and decrease its output.
  B) lower its price and increase its output.
  C) raise its price and increase its output.
  D) continue to produce this level of output because any change will lower its profit.

Question 2

If the value of marginal product of the last worker hired is 24 and the wage rate is 25, then
 
  A) more workers should be hired.
  B) the worker should be fired.
  C) the firm has hired the profit maximizing number of workers.
  D) the firm is earning 1 of profit from this worker.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

karmakat49

  • Sr. Member
  • ****
  • Posts: 369
Answer to Question 1

A

Answer to Question 2

B




Cooldude101

  • Member
  • Posts: 557
Reply 2 on: Jun 29, 2018
Gracias!


ghepp

  • Member
  • Posts: 361
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

For a complete list of videos, visit our video library