This topic contains a solution. Click here to go to the answer

Author Question: A monopolist has set her level of output to maximize profit. The firm's marginal revenue is 20, and ... (Read 126 times)

soccerdreamer_17

  • Hero Member
  • *****
  • Posts: 552
A monopolist has set her level of output to maximize profit. The firm's marginal revenue is 20, and the price elasticity of demand is -2.0. The firm's profit maximizing price is approximately:
 
  A) 0
  B) 20
  C) 40
  D) 10
  E) This problem cannot be answered without knowing the marginal cost.

Question 2

Refer to Scenario 17.2. The lowest level of y that can be set and still have only the high-productivity people meet it is
 
  A) 90.
  B) 60.
  C) 30.
  D) 22.5.
  E) 15.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

brittiany.barnes

  • Sr. Member
  • ****
  • Posts: 321
Answer to Question 1

C

Answer to Question 2

E




soccerdreamer_17

  • Member
  • Posts: 552
Reply 2 on: Jul 1, 2018
Gracias!


Joy Chen

  • Member
  • Posts: 354
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

For a complete list of videos, visit our video library