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

Author Question: A monopolist always selects a price on the elastic portion of its demand curve. a. True b. False ... (Read 84 times)

Pineappleeh

  • Hero Member
  • *****
  • Posts: 585
on: Jun 30, 2018
A monopolist always selects a price on the elastic portion of its demand curve.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Use the idea of interpersonal comparisons of utility to argue for a progressive income tax system where people in higher income brackets are charged higher tax rates on their extra income.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Carissamariew

  • Sr. Member
  • ****
  • Posts: 359
Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

Since the marginal utility of money diminishes for each individual, it seems reasonable to suppose that the utility a rich person derives from his/her marginal dollar is less than the utility a poor person derives from his/her marginal dollar. If the rich person doesn't get as much utility from his/her marginal dollar, then it won't hurt them as much to tax it away as it would hurt a poor person.


Pineappleeh

  • Hero Member
  • *****
  • Posts: 585
Reply #2 on: Jun 30, 2018
Thank you :)


Carissamariew

  • Sr. Member
  • ****
  • Posts: 359
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

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.

True-color view of Mars seen through NASA's Hubble Space Telescope in 1999 True-color view of Mars seen through NASA's Hubble Space Telescope in 1999
Adapoids and omomyoids had longer snouts and are the first “true” primates. Adapoids and omomyoids had longer snouts and are the first “true” primates.
A typical ECT sensor temperature versus voltage curve. A typical ECT sensor temperature versus voltage curve.
China has relied on cheap coal to meet its demand for energy China has relied on cheap coal to meet its demand for energy
The introduction of a new generation of electric and hybrid cars will reduce the demand for oil The introduction of a new generation of electric and hybrid cars will reduce the demand for oil
True Dover Sole True Dover Sole
Video: Eczema

For a complete list of videos, visit our video library