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

Author Question: A decrease in the price of either good will cause a consumer's budget constraint to: A) pivot ... (Read 43 times)

Chelseaamend

  • Hero Member
  • *****
  • Posts: 545
on: Jun 29, 2018
A decrease in the price of either good will cause a consumer's budget constraint to:
 
  A) pivot leftward.
  B) pivot rightward.
  C) shift leftward.
  D) shift rightward.

Question 2

A single-price monopoly has the demand and marginal cost schedules given in the above table. What is the profit-maximizing level of output and price?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ririgirl15

  • Sr. Member
  • ****
  • Posts: 385
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

The profit-maximizing output is 3 units, because that is the quantity for which the marginal revenue equals the marginal cost. The price is 18 a unit.


Chelseaamend

  • Member
  • Posts: 545
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

kthug

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Did you know?

Women are two-thirds more likely than men to develop irritable bowel syndrome. This may be attributable to hormonal changes related to their menstrual cycles.

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Jet streams and Earth’s heat budget Jet streams and Earth’s heat budget
Good body mechanics when facing the head or foot of the table. A. Head and back in alignment. B. ... Good body mechanics when facing the head or foot of the table. A. Head and back in alignment. B. ...
Kneeling on one knee to keep good alignment when massaging the arms and hands. Kneeling on one knee to keep good alignment when massaging the arms and hands.
potatoes as a very good source of vitamin B6 potatoes as a very good source of vitamin B6
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
Your company advertises all prices on the menu board as a final price, including HST of 13%. A ... Your company advertises all prices on the menu board as a final price, including HST of 13%. A ...
Video: What is an ecosystem?

For a complete list of videos, visit our video library