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Author Question: A monopolist has the market demand and marginal cost schedules given in the above table. If the ... (Read 72 times)

09madisonrousseau09

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on: Jun 29, 2018
A monopolist has the market demand and marginal cost schedules given in the above table. If the monopoly can perfectly price discriminate, what is the profit-maximizing level of output and price?
 
  What will be an ideal response?

Question 2

The law of supply states that, other things remaining the same, firms produce
 
  A) more of a good the less it costs to produce it.
  B) less of a good the more it costs to produce it.
  C) more of a good the higher its price.
  D) less of a good as the required resources become scarcer.


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blakcmamba

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

As a perfectly price discriminating monopoly, the profit-maximizing level of output is 4 units and the price ranges from 22 to 16 for each unit.

Answer to Question 2

C


09madisonrousseau09

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

lcapri7

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Reply 3 on: Yesterday
:D TYSM

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