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

Author Question: An unregulated monopoly finds that its marginal cost exceeds its marginal revenue. In order to ... (Read 162 times)

Cooldude101

  • Hero Member
  • *****
  • Posts: 557
An unregulated monopoly finds that its marginal cost exceeds its marginal revenue. In order to increase its profit, the firm will
 
  A) raise its price and decrease its output.
  B) lower its price and increase its output.
  C) raise its price and increase its output.
  D) continue to produce this level of output because any change will lower its profit.

Question 2

If the value of marginal product of the last worker hired is 24 and the wage rate is 25, then
 
  A) more workers should be hired.
  B) the worker should be fired.
  C) the firm has hired the profit maximizing number of workers.
  D) the firm is earning 1 of profit from this worker.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

karmakat49

  • Sr. Member
  • ****
  • Posts: 369
Answer to Question 1

A

Answer to Question 2

B




Cooldude101

  • Member
  • Posts: 557
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review


abro1885

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

For a complete list of videos, visit our video library