A monopoly will be maximizing profits if it is operating at the ...

[tatyanajohnson]

A monopoly will be maximizing profits if it is operating at the point where:
 a. price is at a maximum.
  b. average cost is at a minimum.
  c. average cost is at a maximum.
  d. marginal cost is at a minimum.
  e. marginal revenue = marginal cost.

Question 2

Georgia has a MU/P of 10 for tennis lessons, a MU/P of 6 for sewing lessons, and a U/P of 2 for cooking lessons. In order to maximize utility, she should:
 a. take more cooking lessons.
  b. take more sewing lessons.
  c. take more tennis lessons.
  d. stay with her current choices.
  e. take fewer lessons of each choice.

[cascooper22]

Answer to Question 1

e

Answer to Question 2

c