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Author Question: Refer to Scenario 12.2. What is the profit maximizing level of output? A) 171.43 B) 120 C) ... (Read 120 times)

ericka1

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on: Jul 1, 2018
Refer to Scenario 12.2. What is the profit maximizing level of output?
 
  A) 171.43
  B) 120
  C) 150
  D) all of the above
  E) none of the above

Question 2

Under a production quota policy, the government can maintain a particular support price by reducing the quantity supplied. To maintain a particular support price, how must the quota amount change if the demand curve becomes more elastic?
 
  A) Quota amount increases
  B) Quota amount decreases
  C) Quota amount does not change
  D) Quota amount depends on the supply curve


elyse44

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

C

Answer to Question 2

B


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ericka1

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Reply #2 on: Jul 1, 2018
Correct answers!


elyse44

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Reply #3 on: Jul 1, 2018
Great! Please up vote :D


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