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

Author Question: A monopolist will maximize profits by: a. setting his price as high as possible. b. setting his ... (Read 106 times)

dollx

  • Hero Member
  • *****
  • Posts: 558
on: Jun 30, 2018
A monopolist will maximize profits by:
 a. setting his price as high as possible.
  b. setting his price at the level that will maximize per-unit profit.
  c. producing the output where marginal revenue equals marginal cost.
  d. producing the output where price equals marginal cost.

Question 2

The consumer equilibrium condition for two goods is achieved by equating the:
 a. marginal utility of one to the price of the other for the last dollar spent on each good.
  b. prices of both goods for the last dollar spent on each good.
  c. marginal utilities of both goods for the last dollar spent on each good.
  d. ratios of marginal utility to the price of both goods for the last dollar spent on each good.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

coyin

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

d


dollx

  • Member
  • Posts: 558
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

tandmlomax84

  • Member
  • Posts: 323
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Anthropologist Andrea Wiley (left) investigates the effects of high-altitude living on reproductive Anthropologist Andrea Wiley (left) investigates the effects of high-altitude living on reproductive
Field research on free-living primates allows primatologists to study patterns of behavior in the se Field research on free-living primates allows primatologists to study patterns of behavior in the se
The “Infertility Belt” In certain countries in Central Africa, infertility rates are as high as 30% The “Infertility Belt” In certain countries in Central Africa, infertility rates are as high as 30%
Major Findings of the High Scope Preschool Study High Scope participants showed better academic per Major Findings of the High Scope Preschool Study High Scope participants showed better academic per
Some playgrounds near streets with heavy traffic may still have high levels of lead from gasoline ... Some playgrounds near streets with heavy traffic may still have high levels of lead from gasoline ...
Ratio of College Wages to High-School Wages Ratio of College Wages to High-School Wages
Video: Stress and Immune System Animation

For a complete list of videos, visit our video library