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Author Question: A monopolist with constant average and marginal cost equal to 8 (AC = MC = 8) faces demand Q = 100 - ... (Read 103 times)

jlmhmf

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on: Jul 1, 2018
A monopolist with constant average and marginal cost equal to 8 (AC = MC = 8) faces demand Q = 100 - P, implying that its marginal revenue is MR = 100 - 2Q. Its profit maximizing quantity is
 a. 8
  b. 46
  c. 50
  d. 92

Question 2

Suppose a man and a woman are in love and care for the other's happiness as well as their own consumption. Suppose the woman is more selfish than the woman UM = CM1/2 UW1/2 UW = CW2/3 UM1/3 They will maximize the joint happiness (UM + UW) where
 a. CM = 100; CW = 0
  b. CW = 100; CM = 100
  c. 50 < CM < 100; 0 < CW < 50
  d. 50 < CW < 100; 0 < CM < 50


brittiany.barnes

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Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

d


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jlmhmf

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Reply #2 on: Jul 1, 2018
Thank you :)


brittiany.barnes

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Reply #3 on: Jul 1, 2018
Happy to help you


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