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

Author Question: A monopoly: a. can increase price and increase output at the same time. b. can charge any price it ... (Read 84 times)

Chelseaamend

  • Hero Member
  • *****
  • Posts: 545
on: Jun 30, 2018
A monopoly:
 a. can increase price and increase output at the same time.
  b. can charge any price it wants and still sell all of its output.
  c. can sell any output it produces provided it accepts the market price.
  d. must lower price in order to increase output.
  e. faces a perfectly elastic demand curve.

Question 2

Eric is maximizing his total utility through his choices of two goods: clothes and food. His marginal utility of clothes is 60 and his marginal utility of food is 12 . The price of clothes is 20 . What must be the price of food?
 a. 12.
  b. 6.
  c. 4.
  d. 1.
  e. 0.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

k2629

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

c


Chelseaamend

  • Member
  • Posts: 545
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

hramirez205

  • Member
  • Posts: 345
Reply 3 on: Yesterday
Gracias!

« previous next »
 

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?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

In early capitalism, children worked alongside adults. At that time, just as today, most street ... In early capitalism, children worked alongside adults. At that time, just as today, most street ...
Always take the time to install spark plug wires back into the original holding brackets (wiring ... Always take the time to install spark plug wires back into the original holding brackets (wiring ...
A typical accelerator pedal position (APP) sensor, showing two different output voltage signals ... A typical accelerator pedal position (APP) sensor, showing two different output voltage signals ...
The major cortical input and output pathways of the posterior parietal association cortex. Shown are ... The major cortical input and output pathways of the posterior parietal association cortex. Shown are ...
Calculator Output Calculator Output
Time Line for Life’s Origin and Evolution Time Line for Life’s Origin and Evolution
Video: baroreceptors

For a complete list of videos, visit our video library