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Author Question: A monopoly firm can sell its fourth unit of output for a price of 250 . In order to sell more than ... (Read 288 times)

appyboo

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on: Jun 30, 2018
A monopoly firm can sell its fourth unit of output for a price of 250 . In order to sell more than five units, it must expect to receive a price:
 a. equal to 250.
  b. greater than 250.
  c. less than 250.
  d. equal to 340.
  e. the price is impossible to calculate with the information given.

Question 2

If I buy 3 cups of coffee, paying 1 for each cup, and I would have been willing to pay up to 3 for the first cup, up to 2 for the second cup, and up to 1 for the third cup, then my consumer surplus is:
 a. 6.
  b. 5.
  c. 3.
  d. 2.
  e. 1.


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bassamabas

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

c

Answer to Question 2

c


appyboo

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

ghepp

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

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