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 208 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?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

The Increasing Cost of Health Care, 1960–2010 The Increasing Cost of Health Care, 1960–2010
Bell Curve Joke Bell Curve Joke
Frequency distribution curve: interpatient variability in drug response. Frequency distribution curve: interpatient variability in drug response.
Unregulated populations "J-shaped curve" Unregulated populations "J-shaped curve"
The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur
Survivorship curves for people in the United States in the early 20th and early 21st centuries Survivorship curves for people in the United States in the early 20th and early 21st centuries
Video: Pneumonia Animation

For a complete list of videos, visit our video library