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Author Question: Although a monopoly can charge any price it wishes, it chooses: a. the highest price. b. price ... (Read 70 times)

mp14

  • Hero Member
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  • Posts: 534
on: Jun 30, 2018
Although a monopoly can charge any price it wishes, it chooses:
 a. the highest price.
  b. price equal to marginal cost.
  c. the price that maximizes profit.
  d. competitive prices.
  e. a fair price.

Question 2

Consumer equilibrium exists when:
 a. the marginal utility of each good and service consumed is equal.
  b. the total utility of each good and service consumed is equal.
  c. the marginal utility of each good and service consumed equals its price.
  d. ratio of marginal utility to price for all goods and services is equal.


cupcake16

  • Sr. Member
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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

d


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