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 51 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?

The FDA recognizes 118 routes of administration.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Apparent and True Orbits of Alpha Centauri. Apparent and True Orbits of Alpha Centauri.
True Friendship True Friendship
James A. Garfield lies mortally wounded. After failing to locate the bullet, surgeons called in Alex James A. Garfield lies mortally wounded. After failing to locate the bullet, surgeons called in Alex
Bell Curve Joke Bell Curve Joke
A bell-shaped, or “normal,” curve shows the distribution of phenotypes for traits controlled by ... A bell-shaped, or “normal,” curve shows the distribution of phenotypes for traits controlled by ...
Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ... Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ...
Video: Audiology

For a complete list of videos, visit our video library