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Author Question: Suppose that a monopolist must choose between two points on its demand curve: it can sell 100 units ... (Read 42 times)

Bob-Dole

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on: Jun 30, 2018
Suppose that a monopolist must choose between two points on its demand curve: it can sell 100 units for 3 each, or it can sell 150 units for 2 each. Which of the following is true?
 a. The monopolist is facing elastic demand.
  b. The monopolist is facing unit elastic demand.
  c. The monopolist is facing inelastic demand.
  d. The monopolist is facing perfectly elastic demand.
  e. The elasticity of demand cannot be determined with the information given.

Question 2

Public utilities are either government-owned or government-regulated firms.
 a. True
  b. False


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jasonq

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

B

Answer to Question 2

A


Bob-Dole

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

skipfourms123

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Reply 3 on: Yesterday
Excellent

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