« previous next »

Author Question: The more successful a seller is in inducing buyers to pay the maximum price they would be willing to ... (Read 11 times)

EAugust

  • Hero Member
  • *****
  • Posts: 550
on: Jun 29, 2018
The more successful a seller is in inducing buyers to pay the maximum price they would be willing to pay rather than do without the good, the
 
  A) closer will the seller's marginal revenue curve come to the demand curve.
  B) greater will be the demand for the good.
  C) more elastic will be the demand for the good.
  D) more inelastic will be the demand for the good.

Question 2

Refer to the figure above. When the monopolist is free to set the price, ________.
 
  A) it makes a profit of 150
  B) it makes a loss of 150
  C) it makes a profit of 300
  D) it makes a loss of 300


Ksh22

  • Sr. Member
  • ****
  • Posts: 297
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

Toussaint L’Ouverture leads a revolt of slaves against the French in Haiti—the first and only major Toussaint L’Ouverture leads a revolt of slaves against the French in Haiti—the first and only major
The Last Glacial Maximum The Last Glacial Maximum
How to find the maximum and minimum of a quadratic relation How to find the maximum and minimum of a quadratic relation
Paleocene-Eocene Thermal Maximum Paleocene-Eocene Thermal Maximum
Calculus help: Find the absolute minimum and absolute maximum f(x) = (x2 —1) on [-1.2] Calculus help: Find the absolute minimum and absolute maximum f(x) = (x2 —1) on [-1.2]
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Video: Antidiuretic hormone (vasoconstriction, water reabsorption & sweat inhibition)

For a complete list of videos, visit our video library