« previous next »

Author Question: A monopolist charges 7 per unit for selling 6 units of his product. To sell 7 units, he reduces ... (Read 128 times)

Jipu 123

  • Hero Member
  • *****
  • Posts: 569
on: Jun 30, 2018
A monopolist charges 7 per unit for selling 6 units of his product. To sell 7 units, he reduces price to 6.5 per unit. The marginal revenue (net addition to revenue) from selling the seventh unit is then 3.5.
  Indicate whether the statement is true or false

Question 2

In long-run equilibrium in perfect competition, the entry and exit of firms will drive economic profits to zero.
 a. True
  b. False
  Indicate whether the statement is true or false


prumorgan

  • Sr. Member
  • ****
  • Posts: 326
Reply #1 on: Jun 30, 2018
Answer to Question 1

T

Answer to Question 2

True


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

How to evaluate angles using sine, special triangles, the unit circle (Part 1) How to evaluate angles using sine, special triangles, the unit circle (Part 1)
Biosynthesis of the repeating oligosaccharide unit of the O antigen of Salmonella typhimurium Biosynthesis of the repeating oligosaccharide unit of the O antigen of Salmonella typhimurium
the transamination product of tryptophan is decarboxylated to yield indole-3-acetic acid, or auxin the transamination product of tryptophan is decarboxylated to yield indole-3-acetic acid, or auxin
If P(θ) = (√3 /2, -1/ 2), determine the coordinates of P (θ + 90 °) using the unit circle If P(θ) = (√3 /2, -1/ 2), determine the coordinates of P (θ + 90 °) using the unit circle
If P(x,- 3/7) on the unit circle,x can be written as ± r sqrt s / t , r is ≠ 1. The value of ... If P(x,- 3/7) on the unit circle,x can be written as ± r sqrt s / t , r is ≠ 1. The value of ...
An electrician charges a flat fee of $90 for a home service call. In addition he charges $25 ... An electrician charges a flat fee of $90 for a home service call. In addition he charges $25 ...
Video: Decubitus Ulcer

For a complete list of videos, visit our video library