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 16 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
:D TYSM

ktidd

  • Member
  • Posts: 319
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Charge development is unfavorable and can be circumvented by donation of a proton Charge development is unfavorable and can be circumvented by donation of a proton
Effect of Perceived Price of a Drug on Placebo Analgesia Effect of Perceived Price of a Drug on Placebo Analgesia
Electric Charges Electric Charges
From Farm to Consumer From Farm to Consumer
In 2000, the average charge of tax preparation was 95 . Assuming a normal distribution and a ... In 2000, the average charge of tax preparation was 95 . Assuming a normal distribution and a ...
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Video: Fertilization and Development

For a complete list of videos, visit our video library