« previous next »

Author Question: A monopoly produces and sells 300 units of its product for 8 per unit. If the total cost incurred by ... (Read 143 times)

bio_gurl

  • Hero Member
  • *****
  • Posts: 524
on: Jun 29, 2018
A monopoly produces and sells 300 units of its product for 8 per unit. If the total cost incurred by the monopoly is 1,800, determine its profit or loss.
 
  What will be an ideal response?

Question 2

Fill in the blank: According to your textbook authors, ________ is a key condition for competition to occur.
 
  A) government regulation of price
  B) government regulation of output
  C) preservation of profit
  D) freedom of entry


guyanai

  • Sr. Member
  • ****
  • Posts: 349
Reply #1 on: Jun 29, 2018
Answer to Question 1

Profits = Total revenue - Total cost = 2,400 - 1,800 = 600.

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

X chromosome inactivation in female mammals produces the Barr Body. X chromosome inactivation in female mammals produces the Barr Body.
Faulty outlooping produces F?, an F plasmid that contains chromosomal DNA Faulty outlooping produces F?, an F plasmid that contains chromosomal DNA
Ginkgo Biloba label. The label indicates the product is standardized to percentages of the two ... Ginkgo Biloba label. The label indicates the product is standardized to percentages of the two ...
The human eye, a product of 600 million years of evolution (Lamb, Collin, & Pugh, 2007). The human eye, a product of 600 million years of evolution (Lamb, Collin, & Pugh, 2007).
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: Properties of water -structure of water and polarity (Ionized and polar compounds)

For a complete list of videos, visit our video library