This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Graphically which of the following is true for a monopoly? a. The marginal revenue curve lies below ... (Read 42 times)

P68T

  • Hero Member
  • *****
  • Posts: 509
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


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

k.lashomb

  • Sr. Member
  • ****
  • Posts: 346
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

A


P68T

  • Hero Member
  • *****
  • Posts: 509
Reply #2 on: Jun 30, 2018
Thank you


k.lashomb

  • Sr. Member
  • ****
  • Posts: 346
Reply #3 on: Jun 30, 2018
No problemo


« previous next »
 

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

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?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

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

TrUe....FaLsE TrUe....FaLsE
The thymus gland. This gland lies in the mediastinum of the thoracic cavity, just above the heart. I The thymus gland. This gland lies in the mediastinum of the thoracic cavity, just above the heart. I
True Friendship True Friendship
The age-dependent curve of salivary progresterone levels in three populations. The age-dependent curve of salivary progresterone levels in three populations.
True Dover Sole True Dover Sole
Solving graphically Solving graphically
Video: Olfaction. or the sense of smell

For a complete list of videos, visit our video library