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

Author Question: Assume a monopolist's marginal cost and marginal revenue curves intersect and the demand curve ... (Read 193 times)

nautica902

  • Hero Member
  • *****
  • Posts: 591
on: Jun 30, 2018
Assume a monopolist's marginal cost and marginal revenue curves intersect and the demand curve passes above its average total cost curve. The firm will:
 a. make an economic profit.
  b. stay in operation in the short run, but shut down in the long run.
  c. shut down in the short run.
  d. lower the price.

Question 2

A consumer buys only food and clothing. If the quantity of food bought increases while that of clothing remains the same, the marginal utility of food will:
 a. fall, but not as fast as the marginal utility of clothing falls.
  b. rise, but not as fast as the marginal utility of clothing rises.
  c. rise relative to the marginal utility of clothing.
  d. fall relative to the marginal utility of clothing.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nathang24

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

d


nautica902

  • Hero Member
  • *****
  • Posts: 591
Reply #2 on: Jun 30, 2018
Thank you :)


nathang24

  • Sr. Member
  • ****
  • Posts: 314
Reply #3 on: Jun 30, 2018
Happy to help you


« 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?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Examining the survivorship curve of a Dall mountain sheep population reveals information on the caus Examining the survivorship curve of a Dall mountain sheep population reveals information on the caus
Zonal wind speeds on Uranus. Shaded areas show the southern collar and its future northern counterpa Zonal wind speeds on Uranus. Shaded areas show the southern collar and its future northern counterpa
An Oil-dependent World— Supply and Demand Driven An Oil-dependent World— Supply and Demand Driven
Rub the ears between your thumbs and index fingers. Follow the curves to rub the entire ear, ... Rub the ears between your thumbs and index fingers. Follow the curves to rub the entire ear, ...
Cooperative vs. noncooperative O2-binding curves Cooperative vs. noncooperative O2-binding curves
Two circles that do not intersect Two circles that do not intersect
Video: Glycolysis - Introduction to ATP and the burning of sugar

For a complete list of videos, visit our video library