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 106 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
Thanks for the timely response, appreciate it

fatboyy09

  • Member
  • Posts: 358
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

An engine in good mechanical condition should produce 17 to 21 inches Hg of vacuum at idle at sea ... An engine in good mechanical condition should produce 17 to 21 inches Hg of vacuum at idle at sea ...
Determining a good table height. Stand facing the table with your hands at your sides. Adjust the ... Determining a good table height. Stand facing the table with your hands at your sides. Adjust the ...
Economic recession in 2008 saw a small decrease in demand Economic recession in 2008 saw a small decrease in demand
Carrots are a good source of vitamin A Carrots are a good source of vitamin A
Real Price of Oil, 1861–2010 Real Price of Oil, 1861–2010
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
Video: Interview with Person having Obsessive Compulsive Disorder

For a complete list of videos, visit our video library