« previous next »

Author Question: To maximize its profits, a monopoly should produce the quantity where its marginal cost equals its: ... (Read 69 times)

bucstennis@aim.com

  • Hero Member
  • *****
  • Posts: 532
on: Jun 30, 2018
To maximize its profits, a monopoly should produce the quantity where its marginal cost equals its:
 a. average total cost.
  b. average variable cost.
  c. demand.
  d. marginal revenue.

Question 2

According to the utility model of consumer demand, the demand curve is downward-sloping because of the law of:
 a. diminishing marginal utility.
  b. diminishing consumer equilibrium.
  c. consumer equilibrium.
  d. diminishing utility maximization.


Tabitha_2016

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Monopoly, patented in 1935, was an instant best-seller: Players risk all their assets in an attempt Monopoly, patented in 1935, was an instant best-seller: Players risk all their assets in an attempt
As some groups do ethnic work, they produce a mythical long-lost heritage, as in this photo of ... As some groups do ethnic work, they produce a mythical long-lost heritage, as in this photo of ...
Marginal Products of Physical and Human Capital Marginal Products of Physical and Human Capital
How many grams of NO are required to produce 145 g of N2 in the following reaction? 4NH3 + 6NO ... How many grams of NO are required to produce 145 g of N2 in the following reaction? 4NH3 + 6NO ...
If the frequency equals 60 Hz in Figure 10-1, what is the value of capacitance? If the frequency equals 60 Hz in Figure 10-1, what is the value of capacitance?
The large, white flowers of giant saguaro cactus (Carnegiea gigantea) produce sweet nectar. The flow The large, white flowers of giant saguaro cactus (Carnegiea gigantea) produce sweet nectar. The flow
Video: Premenstrual Syndrome

For a complete list of videos, visit our video library