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Author Question: A monopolist earns an economic profit only when: a. average total cost equals than price. b. ... (Read 115 times)

burton19126

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on: Jun 30, 2018
A monopolist earns an economic profit only when:
 a. average total cost equals than price.
  b. marginal cost equals price.
  c. marginal revenue equals price.
  d. average total cost is less than price.

Question 2

Assume that an individual consumes only hotdogs and colas and that the last hotdog consumed yields 15 utils and the last cola 10 utils. If the price of a hotdog is 1 and the price of a cola is .50, we can conclude that the:
 a. consumer should consume more hotdogs and less cola.
  b. price of hotdogs is too high.
  c. consumer should consume fewer hotdogs and more cola.
  d. consumer is in equilibrium.


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yasmina

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

d

Answer to Question 2

c


burton19126

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Reply 2 on: Jun 30, 2018
:D TYSM

bimper21

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

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