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

Author Question: A decrease in the price of either good will cause a consumer's budget constraint to: A) pivot ... (Read 100 times)

Chelseaamend

  • Hero Member
  • *****
  • Posts: 545
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
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


tkempin

  • Member
  • Posts: 332
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

For a complete list of videos, visit our video library