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 66 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
Gracias!

bblaney

  • Member
  • Posts: 323
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r
Measuring Electrical Charge Measuring Electrical Charge
On November 11, 1887, four anarchists were hanged in Chicago on charges that they had thrown a bomb On November 11, 1887, four anarchists were hanged in Chicago on charges that they had thrown a bomb
Always check the battery, using a conductance or load tester. A battery showing a green charge ... Always check the battery, using a conductance or load tester. A battery showing a green charge ...
A variety of sugar substitutes is available to the consumer A variety of sugar substitutes is available to the consumer
Two tiny particles having charges of +7.00 μC and -9.00 μC are placed along the y-axis. The ... Two tiny particles having charges of +7.00 μC and -9.00 μC are placed along the y-axis. The ...
Video: Second Messengers in the Inositol-lipid Signaling Pathway

For a complete list of videos, visit our video library