This topic contains a solution. Click here to go to the answer

Author Question: Given the market demand and cost data in the above figure, the existence of a monopoly firm ... (Read 39 times)

charchew

  • Hero Member
  • *****
  • Posts: 579
Given the market demand and cost data in the above figure, the existence of a monopoly firm producing 8 million cubic feet of natural gas makes it possible to produce natural gas at a long-run average cost of
 
  A) 10 cents per cubic foot.
  B) 20 cents per cubic foot.
  C) 30 cents per cubic foot.
  D) 40 cents per cubic foot.

Question 2

A method that is technologically inefficient
 
  A) might or might not be economically efficient.
  B) can never be economically efficient.
  C) results from failure to calculate the ratio of the cost of labor to the cost of capital.
  D) means that it uses too much labor and too little capital.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

31809pancho

  • Sr. Member
  • ****
  • Posts: 317
Answer to Question 1

A

Answer to Question 2

B





 

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

For a complete list of videos, visit our video library