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Author Question: To maximize its profits, a monopoly should produce the quantity where its marginal cost equals its: ... (Read 71 times)

bucstennis@aim.com

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on: Jun 30, 2018
To maximize its profits, a monopoly should produce the quantity where its marginal cost equals its:
 a. average total cost.
  b. average variable cost.
  c. demand.
  d. marginal revenue.

Question 2

According to the utility model of consumer demand, the demand curve is downward-sloping because of the law of:
 a. diminishing marginal utility.
  b. diminishing consumer equilibrium.
  c. consumer equilibrium.
  d. diminishing utility maximization.


Tabitha_2016

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

d

Answer to Question 2

a


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