Author Question: If marginal costs increase, a monopolist will: a. decrease price and increase output. b. decrease ... (Read 188 times)

NguyenJ

  • Hero Member
  • *****
  • Posts: 516
If marginal costs increase, a monopolist will:
 a. decrease price and increase output.
  b. decrease both price and output.
  c. increase price and decrease output.
  d. increase both price and output.
  e. keep both price and output at the same level.

Question 2

If Allison's marginal utility of her 100th dollar of income is greater than Brad's marginal utility of his 10th dollar, then we can conclude:
 a. money means more to Allison.
  b. money means more to Brad.
  c. Brad is richer than Allison.
  d. Allison is richer than Brad.
  e. nothing, since we can't make interpersonal utility comparisons.



firehawk60

  • Sr. Member
  • ****
  • Posts: 315
Answer to Question 1

c

Answer to Question 2

e



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

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.

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.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

For a complete list of videos, visit our video library