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

Author Question: A monopolist a. can charge whatever price it wants b. charges more than almost any consumer is ... (Read 61 times)

ghost!

  • Hero Member
  • *****
  • Posts: 560
on: Jun 30, 2018
A monopolist
 a. can charge whatever price it wants
  b. charges more than almost any consumer is willing to pay
  c. is constrained by marginal cost in setting price
  d. is constrained by demand in setting price
  e. always earns an economic profit

Question 2

Production by a monopoly would result in the socially optimal allocation of resources if
 a. price is set equal to marginal cost
  b. marginal revenue is set equal to price
  c. marginal revenue is set equal to marginal cost
  d. price is set equal to average total cost
  e. marginal revenue is set equal to average total cost


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nguyenhoanhat

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

A


ghost!

  • Member
  • Posts: 560
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

ebonylittles

  • Member
  • Posts: 318
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

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?

The top five reasons that children stay home from school are as follows: colds, stomach flu (gastroenteritis), ear infection (otitis media), pink eye (conjunctivitis), and sore throat.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

How a catalyst circumvents unfavorable charge development during cleavage of an amide How a catalyst circumvents unfavorable charge development during cleavage of an amide
Charge development is unfavorable and can be circumvented by donation of a proton Charge development is unfavorable and can be circumvented by donation of a proton
1) (a) What is Coulomb?s Law? (b) Find the net electrostatic force on the charge labeled ?P? in ... 1) (a) What is Coulomb?s Law? (b) Find the net electrostatic force on the charge labeled ?P? in ...
1) (a) What is Coulomb?s Law? (b) Find the net electrostatic force on the charge labeled ?P? in ... 1) (a) What is Coulomb?s Law? (b) Find the net electrostatic force on the charge labeled ?P? in ...
Three point charges lie on the x x axis. Charge 1 (+9.9 μC μ C ) is at the origin, ... Three point charges lie on the x x axis. Charge 1 (+9.9 μC μ C ) is at the origin, ...
The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ... The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ...
Video: Exocytosis - secretion

For a complete list of videos, visit our video library