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

Author Question: What should a profit maximizing monopolist do if she is currently producing where MC < MR? a. ... (Read 50 times)

jon_i

  • Hero Member
  • *****
  • Posts: 549
on: Jun 30, 2018
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
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

c


jon_i

  • Member
  • Posts: 549
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

ASDFGJLO

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Elle and associates investigated the cost to Datura wrightii of producing sticky leaf trichomes. Elle and associates investigated the cost to Datura wrightii of producing sticky leaf trichomes.
A subdural hematoma. A meningeal vein is ruptured and blood has accumulated in the subdural space, p A subdural hematoma. A meningeal vein is ruptured and blood has accumulated in the subdural space, p
The testes. In addition to producing sperm, the testes secrete the male sex hormones, primarily test The testes. In addition to producing sperm, the testes secrete the male sex hormones, primarily test
Each of the eight injectors shown are producing a correct spray pattern for the applications. While ... Each of the eight injectors shown are producing a correct spray pattern for the applications. While ...
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
Producing human insulin in E. coli Producing human insulin in E. coli
Video: Major Elements in Biological Molecules: Carbohydrates

For a complete list of videos, visit our video library