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Author Question: An unregulated, single-price monopoly is shown in the figure above. If its fixed cost is 20, the ... (Read 106 times)

Themember4

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on: Jun 29, 2018
An unregulated, single-price monopoly is shown in the figure above. If its fixed cost is 20, the monopoly's total economic profit when it is maximizing its profit will be
 
  A) negative.
  B) 0.
  C) 25.
  D) 50.

Question 2

If a 1 percent decrease in the price of a pound of oranges results in a smaller percentage decrease in the quantity supplied
 
  A) demand is elastic.
  B) demand is inelastic.
  C) supply is elastic.
  D) supply is inelastic.


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Eunice618

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


Themember4

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

connor417

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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