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Author Question: Dee's TV Repair is the only TV repair shop in a small town. Dee is a single-price monopolist. ... (Read 223 times)

leo leo

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on: Jun 29, 2018
Dee's TV Repair is the only TV repair shop in a small town. Dee is a single-price monopolist.
 
  Based on the demand and cost information in the table above, what is the amount of economic profit made or loss incurred at the quantity of TV repairs that profits are maximized or losses minimized? A) -400
  B) 800
  C) -100
  D) 200

Question 2

A perfectly competitive firm's supply curve
 
  A) shows the relationship between the price and the quantity the firm will produce.
  B) is the portion of the marginal cost curve above the average variable cost curve.
  C) is upward sloping.
  D) All of the above are correct.


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Kjones0604

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

D

Answer to Question 2

D


leo leo

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

milbourne11

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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