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

Author Question: Claude's Copper Clappers sells clappers for 40 each in a perfectly competitive market. At its ... (Read 11 times)

nelaaney

  • Hero Member
  • *****
  • Posts: 560
on: Jun 30, 2018
Claude's Copper Clappers sells clappers for 40 each in a perfectly competitive market. At its present rate of output, Claude's marginal cost is 39, average variable cost is 25, and average total cost is 45 . To improve his profit/loss situation, Claude should
 a. increase output
  b. reduce output but not to zero
  c. maintain the present rate of output
  d. shut down
  e. raise the price

Question 2

A profit-maximizing monopolist produces an output level at which
 a. marginal revenue is the greatest distance from marginal cost
  b. price is less than marginal cost
  c. the value to society of the last unit produced equals marginal cost
  d. marginal revenue equals marginal cost
  e. consumers wish to purchase less than what is produced because of high monopoly prices


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Hdosisshsbshs

  • Sr. Member
  • ****
  • Posts: 315
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

D


nelaaney

  • Hero Member
  • *****
  • Posts: 560
Reply #2 on: Jun 30, 2018
Thank you


Hdosisshsbshs

  • Sr. Member
  • ****
  • Posts: 315
Reply #3 on: Jun 30, 2018
No problemo


« previous next »
 

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co
Big Mac and Copper Big Mac and Copper
Stock Market Question Stock Market Question
Two metal rods, one silver and the other copper, are both attached to a steam chamber, with a ... Two metal rods, one silver and the other copper, are both attached to a steam chamber, with a ...
Markets and Institutions Market Story Problem Markets and Institutions Market Story Problem
Markets and Institutions Market Story Problem Markets and Institutions Market Story Problem
Video: Leukemia

For a complete list of videos, visit our video library