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

Author Question: An unregulated, single-price monopoly is shown in the figure above. If its fixed cost is 20, the ... (Read 151 times)

Themember4

  • Hero Member
  • *****
  • Posts: 538
on: Jun 29, 2018
An unregulated, single-price monopoly is shown in the figure above. If its fixed cost is 20, the monopoly's total economic profit when it is maximizing its profit will be
 
  A) negative.
  B) 0.
  C) 25.
  D) 50.

Question 2

If a 1 percent decrease in the price of a pound of oranges results in a smaller percentage decrease in the quantity supplied
 
  A) demand is elastic.
  B) demand is inelastic.
  C) supply is elastic.
  D) supply is inelastic.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Eunice618

  • Sr. Member
  • ****
  • Posts: 350
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


Themember4

  • Member
  • Posts: 538
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

laurnthompson

  • Member
  • Posts: 334
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Pneumothorax. Figure illustrates how puncture of thoracic wall and tearing of pleural membrane allow Pneumothorax. Figure illustrates how puncture of thoracic wall and tearing of pleural membrane allow
New employees should be shown all exits in case of an emergency. New employees should be shown all exits in case of an emergency.
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
A single overhead camshaft engine with a timing belt that also rotates the water pump. A single overhead camshaft engine with a timing belt that also rotates the water pump.
Apply scissoring between metatarsals and figure-8s on toe joints to mobilize the foot. Apply scissoring between metatarsals and figure-8s on toe joints to mobilize the foot.
Reactions in assimilation of ammonia and major fates of the fixed nitrogen Reactions in assimilation of ammonia and major fates of the fixed nitrogen
Video: Vasectomy

For a complete list of videos, visit our video library