« 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 94 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?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

During a total solar eclipse, the solar corona can be seen with the naked eye, during the brief peri During a total solar eclipse, the solar corona can be seen with the naked eye, during the brief peri
nephron - functional unit of the kidney nephron - functional unit of the kidney
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 ...
If y = 0.02 sin (30x - 400t) (SI units), the velocity of the wave is If y = 0.02 sin (30x - 400t) (SI units), the velocity of the wave is
Calculate the weighted-average cost of the following inventory purchases:DateQuantity ... Calculate the weighted-average cost of the following inventory purchases:DateQuantity ...
An inventory record sheet shows a balance on hand of 972. During the month units sold were 111, ... An inventory record sheet shows a balance on hand of 972. During the month units sold were 111, ...
Video: Barriers - eye structures, digestive mucosa, respiratory mucosa & genitourinary mucosa

For a complete list of videos, visit our video library