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

Author Question: A monopolist a. can charge whatever price it wants b. charges more than almost any consumer is ... (Read 55 times)

ghost!

  • Hero Member
  • *****
  • Posts: 560
on: Jun 30, 2018
A monopolist
 a. can charge whatever price it wants
  b. charges more than almost any consumer is willing to pay
  c. is constrained by marginal cost in setting price
  d. is constrained by demand in setting price
  e. always earns an economic profit

Question 2

Production by a monopoly would result in the socially optimal allocation of resources if
 a. price is set equal to marginal cost
  b. marginal revenue is set equal to price
  c. marginal revenue is set equal to marginal cost
  d. price is set equal to average total cost
  e. marginal revenue is set equal to average total cost


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nguyenhoanhat

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

A


ghost!

  • Member
  • Posts: 560
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

samiel-sayed

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

On November 11, 1887, four anarchists were hanged in Chicago on charges that they had thrown a bomb On November 11, 1887, four anarchists were hanged in Chicago on charges that they had thrown a bomb
Always check the battery, using a conductance or load tester. A battery showing a green charge ... Always check the battery, using a conductance or load tester. A battery showing a green charge ...
From Farm to Consumer From Farm to Consumer
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ... If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ...
An electrician charges a flat fee of $90 for a home service call. In addition he charges $25 ... An electrician charges a flat fee of $90 for a home service call. In addition he charges $25 ...
Video: Kinetic parameters & Kinetic experiment

For a complete list of videos, visit our video library