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Author Question: The goal of any monopolist is to maximize: a. economic profits. b. normal profits. c. price. d. ... (Read 100 times)

nevelica

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on: Jun 30, 2018
The goal of any monopolist is to maximize:
 a. economic profits.
  b. normal profits.
  c. price.
  d. consumer welfare.
  e. output.

Question 2

If a consumer is choosing the optimal combinations of two goods X and Y, and then the price of good Y decreases, this causes:
 a. MU/P of good X to increase, so the consumer now must buy more X to find a new optimal combination.
  b. demand for good X to increase.
  c. MU/P of good Y to increase, so the consumer now must buy more Y to find a new optimal combination.
  d. MU/P of good Y to decrease, so the consumer now must buy more Y to find a new optimal combination.
  e. the demand for good X and good Y will not change.


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dlook33

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

c


nevelica

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

LVPMS

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Reply 3 on: Yesterday
Excellent

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