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Author Question: The figure above shows a monopoly's total revenue and total cost curves. The monopoly's marginal ... (Read 117 times)

RODY.ELKHALIL

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on: Jun 29, 2018
The figure above shows a monopoly's total revenue and total cost curves. The monopoly's marginal revenue equals its marginal cost when it produces
 
  A) 0 units of output.
  B) 5 units of output.
  C) 15 units of output.
  D) 20 units of output.

Question 2

The increase in the demand for widgets, shown in the figure above, is the result of a decrease in the price of McBoover devices. Therefore
 
  A) widgets and McBoover devices are substitutes.
  B) widgets and McBoover devices are complements.
  C) widgets are a normal good.
  D) McBoover devices are a normal good.


ms_sulzle

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

C

Answer to Question 2

B


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