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Author Question: Claude's Copper Clappers sells clappers for 40 each in a perfectly competitive market. At its ... (Read 38 times)

nelaaney

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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


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Hdosisshsbshs

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

A

Answer to Question 2

D


nelaaney

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Reply #2 on: Jun 30, 2018
Thank you


Hdosisshsbshs

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Reply #3 on: Jun 30, 2018
No problemo


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