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

Author Question: A natural gas monopoly currently sells 100 cubic feet of gas at 1.10 per cubic foot. To sell one ... (Read 177 times)

beccaep

  • Hero Member
  • *****
  • Posts: 535
on: Jun 30, 2018
A natural gas monopoly currently sells 100 cubic feet of gas at 1.10 per cubic foot. To sell one more cubic foot, the natural gas company must lower the price of gas to 1.09 . Which of the following best describes the marginal revenue of the 101st cubic foot of natural gas?
 a. The marginal revenue equals the price, or 1.09.
 b. The marginal revenue equals the change in price, or  0.01.
  c. The marginal revenue is less than 1.09.
 d. The marginal revenue is greater than 1.09.

Question 2

If the international price of oranges is less than the domestic price of oranges in Spain, then Spain will export oranges to other countries.
 a. True
  b. False
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

covalentbond

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

False


beccaep

  • Member
  • Posts: 535
Reply 2 on: Jun 30, 2018
:D TYSM

Bigfoot1984

  • Member
  • Posts: 321
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

It is believed that humans initially contracted crabs from gorillas about 3 million years ago from either sleeping in gorilla nests or eating the apes.

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?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Natural selection of a population for dark coloration. Natural selection of a population for dark coloration.
When a Tornado Strikes: Social Organization Following a Natural Disaster When a Tornado Strikes: Social Organization Following a Natural Disaster
Natural Causes of Climate Change Natural Causes of Climate Change
Cat paw mobilizing of shoulders toward the feet. Press downward along upper trapezius muscle from ... Cat paw mobilizing of shoulders toward the feet. Press downward along upper trapezius muscle from ...
Natural plant sources of pharmaceutical Natural plant sources of pharmaceutical
Solving a cubic Solving a cubic
Video: Leukemia

For a complete list of videos, visit our video library