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 166 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
Thanks for the timely response, appreciate it

skipfourms123

  • Member
  • Posts: 343
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Stand facing the side of the table and apply cross-handed stretches for the subcutaneous fascia. ... Stand facing the side of the table and apply cross-handed stretches for the subcutaneous fascia. ...
Growth in the demand for oil from the developing world Growth in the demand for oil from the developing world
Cost of Laptops Cost of Laptops
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 ...
According to Table 17.1, which will reduce water but not Mg2+? According to Table 17.1, which will reduce water but not Mg2+?
Table Table
Video: Griffith's experiments

For a complete list of videos, visit our video library