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Author Question: When Kathryn spends her entire budget and equates marginal utility per dollar across all goods, then ... (Read 49 times)

bclement10

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on: Jun 29, 2018
When Kathryn spends her entire budget and equates marginal utility per dollar across all goods, then Kathryn's total utility is maximized.
 
  Indicate whether the statement is true or false

Question 2

The Karaoke Channel Online streams professional-grade karaoke for 9.95 a month. Suppose Karaoke Channel Online has a constant marginal cost of 1 per customer and total fixed cost is 20,000. The profit maximizing number of customers is 10,000.
 
  Several competitors start to advertise online. Karaoke Channel Online now spends 5,000 a month on advertising and the profit maximizing number of customers increases to 12,000. What is Karaoke Channel Online's average total cost before the advertising begins? A) 3
  B) 2
  C) 1
  D) 2.66


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manuelcastillo

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Reply #1 on: Jun 29, 2018
Answer to Question 1

TRUE

Answer to Question 2

A


bclement10

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

Dnite

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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