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Author Question: A profit-maximizing monopolist a. never produces on the inelastic portion of the demand curve ... (Read 93 times)

faduma

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  • Posts: 528
on: Jun 30, 2018
A profit-maximizing monopolist
 a. never produces on the inelastic portion of the demand curve because it can increase profit by increasing output
  b. never produces on the inelastic portion of the demand curve because marginal revenue exceeds marginal cost
  c. always produces on the inelastic portion of the demand curve
  d. never produces on the elastic portion of the demand curve because there are no substitutes for the good it produces
  e. never produces on the inelastic portion of the demand curve because marginal revenue is negative there

Question 2

Which of the following is the best example of a natural monopoly?
 a. gold mining in the Colorado Rocky Mountains
  b. filmmaking in Hollywood
  c. electrical service to homes in Seattle
  d. production of film by Kodak
  e. production of computers by IBM


samiel-sayed

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

E

Answer to Question 2

C


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