Author Question: The goal of any monopolist is to maximize: a. economic profits. b. normal profits. c. price. d. ... (Read 73 times)

nevelica · **on:** Jun 30, 2018

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.