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Author Question: A monopolist has set her level of output to maximize profit. The firm's marginal revenue is 20, and ... (Read 178 times)

soccerdreamer_17

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on: Jul 1, 2018
A monopolist has set her level of output to maximize profit. The firm's marginal revenue is 20, and the price elasticity of demand is -2.0. The firm's profit maximizing price is approximately:
 
  A) 0
  B) 20
  C) 40
  D) 10
  E) This problem cannot be answered without knowing the marginal cost.

Question 2

Refer to Scenario 17.2. The lowest level of y that can be set and still have only the high-productivity people meet it is
 
  A) 90.
  B) 60.
  C) 30.
  D) 22.5.
  E) 15.


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brittiany.barnes

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

E


soccerdreamer_17

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Reply 2 on: Jul 1, 2018
:D TYSM

ebonylittles

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

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