« previous next »

Author Question: A monopoly produces and sells 300 units of its product for 8 per unit. If the total cost incurred by ... (Read 260 times)

bio_gurl

  • Hero Member
  • *****
  • Posts: 524
on: Jun 29, 2018
A monopoly produces and sells 300 units of its product for 8 per unit. If the total cost incurred by the monopoly is 1,800, determine its profit or loss.
 
  What will be an ideal response?

Question 2

Fill in the blank: According to your textbook authors, ________ is a key condition for competition to occur.
 
  A) government regulation of price
  B) government regulation of output
  C) preservation of profit
  D) freedom of entry


guyanai

  • Sr. Member
  • ****
  • Posts: 349
Reply #1 on: Jun 29, 2018
Answer to Question 1

Profits = Total revenue - Total cost = 2,400 - 1,800 = 600.

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

A recruiting poster for the “True Sons of Freedom” encouraged African Americans to enlist. In fact, A recruiting poster for the “True Sons of Freedom” encouraged African Americans to enlist. In fact,
Schematic of Rectification Unit Schematic of Rectification Unit
Ginkgo Biloba label. The label indicates the product is standardized to percentages of the two ... Ginkgo Biloba label. The label indicates the product is standardized to percentages of the two ...
Infant formula is available in several forms and varies in cost and ingredients Infant formula is available in several forms and varies in cost and ingredients
A wave whose wavelength is 0.500 m is traveling down a 500-m long wire whose total mass is 25 ... A wave whose wavelength is 0.500 m is traveling down a 500-m long wire whose total mass is 25 ...
Which of the following is not a unit factor related to a 10.0% aqueous solution Which of the following is not a unit factor related to a 10.0% aqueous solution
Video: Carbohydrate Metabolism: Introduction to renal processes and filtrate formation and composition

For a complete list of videos, visit our video library