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

Author Question: If the demand for its product is elastic, a monopoly's A) total revenue is unchanged when the ... (Read 64 times)

KWilfred

  • Hero Member
  • *****
  • Posts: 570
on: Jun 29, 2018
If the demand for its product is elastic, a monopoly's
 
  A) total revenue is unchanged when the firm lowers its price.
  B) total revenue decreases when the firm lowers its price.
  C) marginal revenue is positive.
  D) marginal revenue is zero.

Question 2

In the above table, diminishing marginal returns start to occur when the
 
  A) 3rd worker is employed.
  B) 4th worker is employed.
  C) 5th worker is employed.
  D) 6th worker is employed.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nmyers

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


KWilfred

  • Member
  • Posts: 570
Reply 2 on: Jun 29, 2018
Wow, this really help

AngeliqueG

  • Member
  • Posts: 343
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Elastic cartilage Ear Elastic cartilage Ear
An Oil-dependent World— Supply and Demand Driven An Oil-dependent World— Supply and Demand Driven
Generally, the total tax burden in the United States is much lower than that of other industrialize Generally, the total tax burden in the United States is much lower than that of other industrialize
Marginal Supply - Demand Curve Marginal Supply - Demand Curve
Use the product rule to find derivative Use the product rule to find derivative
A company purchased 26 desks for $240 each and 18 chairs for $59 each. Compute the total ... A company purchased 26 desks for $240 each and 18 chairs for $59 each. Compute the total ...
Video: Interview with Person who has Schizophrenia

For a complete list of videos, visit our video library