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

Author Question: Using the demand schedule in the above table, if the firm's marginal cost is constant at 3.00, ... (Read 97 times)

jhjkgdfhk

  • Hero Member
  • *****
  • Posts: 569
on: Jun 29, 2018
Using the demand schedule in the above table, if the firm's marginal cost is constant at 3.00, output for a perfectly price discriminating monopolist is
 
  A) 2 units.
  B) 3 units.
  C) 4 units.
  D) 5 units.

Question 2

Hank's Propane Storage Company is a profit-maximizing monopsony in the local labor market for propane handling, delivery, and other associated services. The supply and marginal cost of labor curves are shown in the figure above.
 
  Hank's demand for labor curve is the curve labeled VMP = D. At what level should a minimum wage be set in order to achieve the wage rate and quantity of employment that would be attained in a competitive labor market? A) 4 per hour
  B) 6 per hour
  C) 8 per hour
  D) 12 per hour


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Kedrick2014

  • Sr. Member
  • ****
  • Posts: 359
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

C


jhjkgdfhk

  • Member
  • Posts: 569
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

mammy1697

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Frank Lloyd Wright, Table lamp, executed for the Linden Glass Co. for the Susan Lawrence Dana ... Frank Lloyd Wright, Table lamp, executed for the Linden Glass Co. for the Susan Lawrence Dana ...
A demand delivery system uses a fuel-pressure regulator attached to the fuel pump assembly inside ... A demand delivery system uses a fuel-pressure regulator attached to the fuel pump assembly inside ...
Typical Startup Cost Categories Typical Startup Cost Categories
A 23 kg mass is connected to a nail on a frictionless table by a massless string 1.3 m long. ... A 23 kg mass is connected to a nail on a frictionless table by a massless string 1.3 m long. ...
A ship is being pulled through a harbor at constant velocity by two tugboats as shown in the ... A ship is being pulled through a harbor at constant velocity by two tugboats as shown in the ...
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
Video: Haustral churning, Gastrocolic reflex and mass peristalsis & Defecation

For a complete list of videos, visit our video library