« previous next »

Author Question: To maximize its profits, a monopoly should produce the quantity where its marginal cost equals its: ... (Read 75 times)

bucstennis@aim.com

  • Hero Member
  • *****
  • Posts: 532
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

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

d

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Durkheim believed that modern societies produce feelings of isolation, much of which come from the ... Durkheim believed that modern societies produce feelings of isolation, much of which come from the ...
Large-scale circulation systems produce global climate patterns Large-scale circulation systems produce global climate patterns
Hydrogen burns to produce energy and water Hydrogen burns to produce energy and water
Self-crossing F2 plants to produce an F3 generation shows that there are two different genotypes amo Self-crossing F2 plants to produce an F3 generation shows that there are two different genotypes amo
A company that makes cell phones has the following cost structure. They have fixed costs of ... A company that makes cell phones has the following cost structure. They have fixed costs of ...
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Video: How a Urinalysis is Performed

For a complete list of videos, visit our video library