This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A decrease in the price of either good will cause a consumer's budget constraint to: A) pivot ... (Read 60 times)

Chelseaamend

  • Hero Member
  • *****
  • Posts: 545
on: Jun 29, 2018
A decrease in the price of either good will cause a consumer's budget constraint to:
 
  A) pivot leftward.
  B) pivot rightward.
  C) shift leftward.
  D) shift rightward.

Question 2

A single-price monopoly has the demand and marginal cost schedules given in the above table. What is the profit-maximizing level of output and price?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ririgirl15

  • Sr. Member
  • ****
  • Posts: 385
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

The profit-maximizing output is 3 units, because that is the quantity for which the marginal revenue equals the marginal cost. The price is 18 a unit.


Chelseaamend

  • Member
  • Posts: 545
Reply 2 on: Jun 29, 2018
Gracias!

cassie_ragen

  • Member
  • Posts: 347
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

good to eat good to eat
Good body mechanics for lifting heavy objects. Good body mechanics for lifting heavy objects.
Kneeling on one knee to keep good alignment when massaging the arms and hands. Kneeling on one knee to keep good alignment when massaging the arms and hands.
Sample budget spreadsheet form for first year of business. Sample budget spreadsheet form for first year of business.
Nuts are also a good source of B group vitamins (including folate), and vitamin E Nuts are also a good source of B group vitamins (including folate), and vitamin E
The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ... The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ...
Video: Stomach peristalsis - Movement of Food Through the Small Intestine

For a complete list of videos, visit our video library