Question 1
A monopolist is not guaranteed positive economic profits solely because it is a monopoly since there may be no output for which
◦
TR =
TVC.
◦
TR >
TC.
◦
MC =
MR.
◦
ATR <
MR.
Question 2
The Exclusive Gift Company has a monopoly over the sale of gold hula hoops. This company is currently pricing and producing where marginal revenue is equal to marginal cost. It is selling 50 gold hula hoops at a price of $5,000 each. Total costs for the company are $300,000 of which fixed costs are $100,000. You are hired as an economic consultant to this company. You should advise this monopolist to
◦ shut down in the short run and exit the industry in the long run.
◦ produce in the short run and expand capacity in the long run.
◦ produce in the short run but exit the industry in the long run if conditions do not change.
◦ shut down in the short run but expand capacity in the long run if conditions do not change.
Rutherford's gold foil experiment demonstrating that most of the volume of an atom is empty spa
All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co
Gold-adorned Face Mask
Vintage toy gift from my dad