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Author Question: Many country inns shut down in the off-season because a. the off-season market price falls below ... (Read 48 times)

vicky

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on: Jun 30, 2018
Many country inns shut down in the off-season because
 a. the off-season market price falls below average total cost
  b. the off-season market price can't cover their average fixed cost
  c. the off-season revenue can't cover variable cost
  d. the off-season price is below the marginal cost of providing a room
  e. innkeepers are interested in maximizing revenue

Question 2

In the short run, a monopolist will always shut down when
 a. total cost is greater than total revenue at all output levels
  b. total variable cost is greater than fixed cost
  c. total revenue is greater than total variable cost at all output levels
  d. fixed cost is greater than total revenue at all output levels
  e. total variable cost is greater than total revenue at all output levels


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parshano

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

C

Answer to Question 2

E


vicky

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

jordangronback

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Reply 3 on: Yesterday
Wow, this really help

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