The goal of any monopolist is to maximize: a. economic profits. ...

[nevelica]

The goal of any monopolist is to maximize:
 a. economic profits.
  b. normal profits.
  c. price.
  d. consumer welfare.
  e. output.

Question 2

If a consumer is choosing the optimal combinations of two goods X and Y, and then the price of good Y decreases, this causes:
 a. MU/P of good X to increase, so the consumer now must buy more X to find a new optimal combination.
  b. demand for good X to increase.
  c. MU/P of good Y to increase, so the consumer now must buy more Y to find a new optimal combination.
  d. MU/P of good Y to decrease, so the consumer now must buy more Y to find a new optimal combination.
  e. the demand for good X and good Y will not change.

[dlook33]

Answer to Question 1

a

Answer to Question 2

c

[nevelica]

Thanks for the timely response, appreciate it

[jomama]

YES! Correct, THANKS for helping me on my review