If marginal revenue on the tenth unit of output equals 4 for a ...

[anjilletteb]

If marginal revenue on the tenth unit of output equals 4 for a non-discriminating, profit-maximizing monopolist, then price:
 a. equals 4.
 b. is less than 4.
 c. is greater than 4.
 d. must be equal to average total cost.

Question 2

Employers and workers in the protected industry know that the consequences of protection are principally:
 a. lower prices for their output, lower profits for owners, and lower wages for workers.
  b. higher prices for their output, lower profits for owners, and lower wages for workers.
  c. higher prices for their output, lower profits for owners, and higher wages for workers.
  d. lower prices for their output, higher profits for owners, and higher wages for workers.
  e. higher prices for their output, higher profits for owners, and higher wages for workers.

[kishoreddi]

Answer to Question 1

c

Answer to Question 2

e

[anjilletteb]

Thank you

[kishoreddi]

Happy to help you