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Author Question: If marginal revenue on the tenth unit of output equals 4 for a non-discriminating, profit-maximizing ... (Read 109 times)

anjilletteb

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on: Jun 30, 2018
If marginal revenue on the tenth unit of output equals 4 for a non-discriminating, profit-maximizing monopolist, then price:
 a. equals 4.
 b. is less than 4.
 c. is greater than 4.
 d. must be equal to average total cost.

Question 2

Employers and workers in the protected industry know that the consequences of protection are principally:
 a. lower prices for their output, lower profits for owners, and lower wages for workers.
  b. higher prices for their output, lower profits for owners, and lower wages for workers.
  c. higher prices for their output, lower profits for owners, and higher wages for workers.
  d. lower prices for their output, higher profits for owners, and higher wages for workers.
  e. higher prices for their output, higher profits for owners, and higher wages for workers.


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kishoreddi

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

e


anjilletteb

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Reply #2 on: Jun 30, 2018
Thank you :)


kishoreddi

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Reply #3 on: Jun 30, 2018
Happy to help you


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