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Author Question: Graphically which of the following is true for a monopoly? a. The marginal revenue curve lies below ... (Read 53 times)

P68T

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on: Jun 30, 2018
Graphically which of the following is true for a monopoly?
 a. The marginal revenue curve lies below the demand curve and is steeper than the demand curve.
  b. The marginal revenue curve lies above the demand curve and is steeper than the demand curve.
  c. The marginal revenue curve lies below the demand curve and is flatter than the demand curve.
  d. The marginal revenue curve lies above the demand curve and is flatter than the demand curve.

Question 2

Let the marginal product of capital (MPK ) be 6; the marginal product of labor (MPL) be 2; the price of labor is given by 10 . What will be the price of capital such that the isocost and the isoquant are tangent to each other?
 a. 30
  b. 3
  c. 60
  d. 6


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k.lashomb

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

a

Answer to Question 2

A


P68T

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Reply #2 on: Jun 30, 2018
Thank you


k.lashomb

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Reply #3 on: Jun 30, 2018
No problemo


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