This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The monopolist always maximizes its profits by producing the amount of output that sets the marginal ... (Read 95 times)

armygirl

  • Hero Member
  • *****
  • Posts: 556
on: Jun 29, 2018
The monopolist always maximizes its profits by producing the amount of output that sets the marginal revenue equal to zero.
 
  Indicate whether the statement is true or false

Question 2

In order to maximize its profit, a single-price monopoly always produces output in the inelastic range of the demand for its product.
 
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

joewallace

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jun 29, 2018
Answer to Question 1

FALSE

Answer to Question 2

FALSE


armygirl

  • Member
  • Posts: 556
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

kjohnson

  • Member
  • Posts: 330
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

A graphical representation of the marginal value theorem. A graphical representation of the marginal value theorem.
Find the final amount if the initial amount is 400 units. Find the final amount if the initial amount is 400 units.
Light beer has about the same amount of alcohol as regular beer Light beer has about the same amount of alcohol as regular beer
Find the factor demand for labour and the amount of output it will produce. Show all ... Find the factor demand for labour and the amount of output it will produce. Show all ...
During a period of high power demand, the voltage output of the power company is reduced by ... During a period of high power demand, the voltage output of the power company is reduced by ...
What amount was invested 35 years ago at 7% compounded semiannually if the value of the ... What amount was invested 35 years ago at 7% compounded semiannually if the value of the ...
Video: Action potentials - electrical characteristics and generation

For a complete list of videos, visit our video library