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

Author Question: What should a profit maximizing monopolist do if she is currently producing where MC < MR? a. ... (Read 87 times)

jon_i

  • Hero Member
  • *****
  • Posts: 549
What should a profit maximizing monopolist do if she is currently producing where MC < MR?
 a. Increase output until MC = MR.
  b. Decrease output until MC = MR.
  c. Shut down in the long run.
  d. Keep producing at this level.
  e. Operate only in the short run.

Question 2

If a consumer wishes to maximize satisfaction given limited income and MUx/Px< MUy/Py then the consumer should:
 a. do nothing because she/he is in equilibrium.
  b. buy more of X and less of Y.
  c. buy more of Y and less of X.
  d. buy more of both X and Y.
  e. buy less of both X and Y.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

JCABRERA33

  • Sr. Member
  • ****
  • Posts: 344
Answer to Question 1

a

Answer to Question 2

c




jon_i

  • Member
  • Posts: 549
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)


vickyvicksss

  • Member
  • Posts: 351
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

The average adult has about 21 square feet of skin.

For a complete list of videos, visit our video library