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Author Question: At the level of output where the marginal cost and marginal revenue curves intersect, a monopolist's ... (Read 132 times)

B

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on: Jun 30, 2018
At the level of output where the marginal cost and marginal revenue curves intersect, a monopolist's demand curve passes above its average total cost curve. The firm will:
 a. be able to make a pure economic profit.
  b. stay in operation in the short-run, but shut down.
  c. shut down in the short-run.
  d. increase its price.

Question 2

If a consumer allocates income between goods A and B, total utility is maximized when:
 a. the marginal utility of A = the marginal utility of B.
  b. the marginal utility of A = the marginal utility of B = 0.
  c. the price of A = price of B.
  d. marginal utility of A / price of A = marginal utility of B / price of B = 0.
  e. marginal utility of A / price of A = marginal utility of B / price of B.


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nhea

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

a

Answer to Question 2

e


B

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

amandanbreshears

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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