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

Author Question: A natural gas monopoly currently sells 100 cubic feet of gas at 1.10 per cubic foot. To sell one ... (Read 113 times)

beccaep

  • Hero Member
  • *****
  • Posts: 535
on: Jun 30, 2018
A natural gas monopoly currently sells 100 cubic feet of gas at 1.10 per cubic foot. To sell one more cubic foot, the natural gas company must lower the price of gas to 1.09 . Which of the following best describes the marginal revenue of the 101st cubic foot of natural gas?
 a. The marginal revenue equals the price, or 1.09.
 b. The marginal revenue equals the change in price, or  0.01.
  c. The marginal revenue is less than 1.09.
 d. The marginal revenue is greater than 1.09.

Question 2

If the international price of oranges is less than the domestic price of oranges in Spain, then Spain will export oranges to other countries.
 a. True
  b. False
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

covalentbond

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

False


beccaep

  • Member
  • Posts: 535
Reply 2 on: Jun 30, 2018
:D TYSM

dyrone

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

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?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Monopoly, patented in 1935, was an instant best-seller: Players risk all their assets in an attempt Monopoly, patented in 1935, was an instant best-seller: Players risk all their assets in an attempt
Natural Settings Natural Settings
Create space between metatarsals by pulling sides of foot away from each other. Create space between metatarsals by pulling sides of foot away from each other.
Knead lower leg muscles by bending the knee until the foot is flat on the supporting surface. Reach ... Knead lower leg muscles by bending the knee until the foot is flat on the supporting surface. Reach ...
Natural plant sources of pharmaceutical Natural plant sources of pharmaceutical
Natural hazards Natural hazards
Video: Regulation of GFR: autoregulation via tubuloglomerular feedback, neural & hormonal regulation

For a complete list of videos, visit our video library