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Author Question: A monopoly: a. can increase price and increase output at the same time. b. can charge any price it ... (Read 69 times)

Chelseaamend

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on: Jun 30, 2018
A monopoly:
 a. can increase price and increase output at the same time.
  b. can charge any price it wants and still sell all of its output.
  c. can sell any output it produces provided it accepts the market price.
  d. must lower price in order to increase output.
  e. faces a perfectly elastic demand curve.

Question 2

Eric is maximizing his total utility through his choices of two goods: clothes and food. His marginal utility of clothes is 60 and his marginal utility of food is 12 . The price of clothes is 20 . What must be the price of food?
 a. 12.
  b. 6.
  c. 4.
  d. 1.
  e. 0.


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k2629

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

d

Answer to Question 2

c


Chelseaamend

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

bblaney

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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