« 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 256 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?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Diabetes mellitus. The metabolic disease diabetes mellitus, with symptoms of polydipsia, polyuria, a Diabetes mellitus. The metabolic disease diabetes mellitus, with symptoms of polydipsia, polyuria, a
Galaxies Forming by Combining Smaller Units Galaxies Forming by Combining Smaller Units
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).
How to convert between imperial and metric units (Part 2) How to convert between imperial and metric units (Part 2)
Schematic depiction of the action of tryptophan synthase in one functional unit Schematic depiction of the action of tryptophan synthase in one functional unit
Energy and Energy Units Energy and Energy Units
Video: Stretch reflex & Tendon reflex

For a complete list of videos, visit our video library