This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If the demand for its product is elastic, a monopoly's A) total revenue is unchanged when the ... (Read 76 times)

KWilfred

  • Hero Member
  • *****
  • Posts: 570
on: Jun 29, 2018
If the demand for its product is elastic, a monopoly's
 
  A) total revenue is unchanged when the firm lowers its price.
  B) total revenue decreases when the firm lowers its price.
  C) marginal revenue is positive.
  D) marginal revenue is zero.

Question 2

In the above table, diminishing marginal returns start to occur when the
 
  A) 3rd worker is employed.
  B) 4th worker is employed.
  C) 5th worker is employed.
  D) 6th worker is employed.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nmyers

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


KWilfred

  • Member
  • Posts: 570
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

Mochi

  • Member
  • Posts: 300
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Did you know?

Disorders that may affect pharmacodynamics include genetic mutations, malnutrition, thyrotoxicosis, myasthenia gravis, Parkinson's disease, and certain forms of insulin-resistant diabetes mellitus.

Rivers Are a Product of Their Watersheds Rivers Are a Product of Their Watersheds
Compression ratio is the ratio of the total cylinder volume (when the piston is at the bottom of ... Compression ratio is the ratio of the total cylinder volume (when the piston is at the bottom of ...
Immunofixation electrophoresis. (a) IgG kappa myeloma, (b) Controls showing total serum protein ... Immunofixation electrophoresis. (a) IgG kappa myeloma, (b) Controls showing total serum protein ...
Closed and Open Food Product Dating Closed and Open Food Product Dating
Elastic/inelastic #5 Elastic/inelastic #5
What is the total resistance of the circuit in Figure 1? 150 What is the total resistance of the circuit in Figure 1? 150
Video: Arthroscopy

For a complete list of videos, visit our video library