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Author Question: What should a profit maximizing monopolist do if she is currently producing where MC < MR? a. ... (Read 49 times)

jon_i

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on: Jun 30, 2018
What should a profit maximizing monopolist do if she is currently producing where MC < MR?
 a. Increase output until MC = MR.
  b. Decrease output until MC = MR.
  c. Shut down in the long run.
  d. Keep producing at this level.
  e. Operate only in the short run.

Question 2

If a consumer wishes to maximize satisfaction given limited income and MUx/Px< MUy/Py then the consumer should:
 a. do nothing because she/he is in equilibrium.
  b. buy more of X and less of Y.
  c. buy more of Y and less of X.
  d. buy more of both X and Y.
  e. buy less of both X and Y.


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JCABRERA33

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

c


jon_i

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

bblaney

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  • Posts: 323
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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