This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What should a profit maximizing monopolist do if she is currently producing where MC < MR? a. ... (Read 81 times)

jon_i

  • Hero Member
  • *****
  • Posts: 549
on: Jun 30, 2018
What should a profit maximizing monopolist do if she is currently producing where MC < MR?
 a. Increase output until MC = MR.
  b. Decrease output until MC = MR.
  c. Shut down in the long run.
  d. Keep producing at this level.
  e. Operate only in the short run.

Question 2

If a consumer wishes to maximize satisfaction given limited income and MUx/Px< MUy/Py then the consumer should:
 a. do nothing because she/he is in equilibrium.
  b. buy more of X and less of Y.
  c. buy more of Y and less of X.
  d. buy more of both X and Y.
  e. buy less of both X and Y.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

JCABRERA33

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

c


jon_i

  • Member
  • Posts: 549
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

mammy1697

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

A subdural hematoma. A meningeal vein is ruptured and blood has accumulated in the subdural space, p A subdural hematoma. A meningeal vein is ruptured and blood has accumulated in the subdural space, p
The ovaries. In addition to producing ova, the ovaries secrete the female sex hormones, estrogen and The ovaries. In addition to producing ova, the ovaries secrete the female sex hormones, estrogen and
Retrograde pyelogram. A contrast medium is injected into the ureter using a cystoscope, and the X-ra Retrograde pyelogram. A contrast medium is injected into the ureter using a cystoscope, and the X-ra
A company that sells sweatshirts finds that the profit can be modelled by P(s)= ... A company that sells sweatshirts finds that the profit can be modelled by P(s)= ...
Skin color is a polygenic trait controlled by three or four genes, producing a wide range of phenoty Skin color is a polygenic trait controlled by three or four genes, producing a wide range of phenoty
A basic strategy for producing a knockout mouse A basic strategy for producing a knockout mouse
Video: Central Nervous System Animation

For a complete list of videos, visit our video library