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Author Question: Refer to Scenario 12.2. Suppose that the marginal cost increases such that: MC = Q + 10 What is ... (Read 63 times)

mckennatimberlake

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on: Jul 1, 2018
Refer to Scenario 12.2. Suppose that the marginal cost increases such that:
 
  MC = Q + 10
  What is the profit maximizing level of output?
  A) 171.43
  B) 120
  C) 150
  D) all of the above
  E) none of the above

Question 2

For computers and other business equipment, small changes in business earnings tend to generate relatively large short-run changes in the demand for this equipment, and the long-run income response tends to be smaller.
 
  Industries that face demand behavior of this type are known as: A) natural monopolies.
  B) cartels.
  C) cyclical industries.
  D) constant-cost industries.


ashely1112

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

C

Answer to Question 2

C


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