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Author Question: Differentiate between a socially-optimal price and a fair-returns price. What will be an ideal ... (Read 53 times)

jace

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on: Jun 29, 2018
Differentiate between a socially-optimal price and a fair-returns price.
 
  What will be an ideal response?

Question 2

A price searcher can move its marginal revenue curve closer to its demand curve if it can
 
  A) achieve significant economies of scale.
  B) charge different buyers different prices for the same good.
  C) price at the point of unit demand elasticity.
  D) produce at constant marginal cost.
  E) set marginal revenue equal to marginal cost.


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sierrahalpin

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A price set at the marginal cost of production is referred to as a socially-optimal price. A price set at the average total cost of production is referred to as a fair-returns price.

Answer to Question 2

B


jace

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

mohan

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Reply 3 on: Yesterday
Excellent

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