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Author Question: A monopolist will earn economic profits as long as his price exceeds: a. marginal revenue. b. ... (Read 94 times)

CharlieWard

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on: Jun 30, 2018
A monopolist will earn economic profits as long as his price exceeds:
 a. marginal revenue.
  b. average fixed cost.
  c. average variable cost.
  d. average total cost.

Question 2

Consumers should continue to rearrange their consumption of two goods until:
 a. the prices of the two goods are equal for the last dollar spent on each good.
  b. marginal utility is the same for each good for the last dollar spent on each good.
  c. the marginal utility per dollar's worth of the two goods is the same for the last dollar spent on each good.
  d. the same amount of each is purchased.


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InfiniteSteez

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

d

Answer to Question 2

c


CharlieWard

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

cpetit11

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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