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Author Question: A monopolist will maximize profits by: a. setting his price as high as possible. b. setting his ... (Read 90 times)

dollx

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on: Jun 30, 2018
A monopolist will maximize profits by:
 a. setting his price as high as possible.
  b. setting his price at the level that will maximize per-unit profit.
  c. producing the output where marginal revenue equals marginal cost.
  d. producing the output where price equals marginal cost.

Question 2

The consumer equilibrium condition for two goods is achieved by equating the:
 a. marginal utility of one to the price of the other for the last dollar spent on each good.
  b. prices of both goods for the last dollar spent on each good.
  c. marginal utilities of both goods for the last dollar spent on each good.
  d. ratios of marginal utility to the price of both goods for the last dollar spent on each good.


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coyin

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

c

Answer to Question 2

d


dollx

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

smrtceo

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

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