This topic contains a solution. Click here to go to the answer

Author Question: A monopoly firm can sell its fourth unit of output for a price of 250 . In order to sell more than ... (Read 285 times)

appyboo

  • Hero Member
  • *****
  • Posts: 527
A monopoly firm can sell its fourth unit of output for a price of 250 . In order to sell more than five units, it must expect to receive a price:
 a. equal to 250.
  b. greater than 250.
  c. less than 250.
  d. equal to 340.
  e. the price is impossible to calculate with the information given.

Question 2

If I buy 3 cups of coffee, paying 1 for each cup, and I would have been willing to pay up to 3 for the first cup, up to 2 for the second cup, and up to 1 for the third cup, then my consumer surplus is:
 a. 6.
  b. 5.
  c. 3.
  d. 2.
  e. 1.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bassamabas

  • Sr. Member
  • ****
  • Posts: 294
Answer to Question 1

c

Answer to Question 2

c




appyboo

  • Member
  • Posts: 527
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it


komodo7

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

An identified risk factor for osteoporosis is the intake of excessive amounts of vitamin A. Dietary intake of approximately double the recommended daily amount of vitamin A, by women, has been shown to reduce bone mineral density and increase the chances for hip fractures compared with women who consumed the recommended daily amount (or less) of vitamin A.

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?

HIV testing reach is still limited. An estimated 40% of people with HIV (more than 14 million) remain undiagnosed and do not know their infection status.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

For a complete list of videos, visit our video library