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

Author Question: Marginal revenue is a. total revenue minus total cost b. total revenue divided by quantity of ... (Read 264 times)

sdfghj

  • Hero Member
  • *****
  • Posts: 552
on: Jun 30, 2018
Marginal revenue is
 a. total revenue minus total cost
  b. total revenue divided by quantity of output
  c. the change in total revenue divided by the change in output
  d. the change in total revenue divided by the change in the quantity of an input used
  e. economic profit

Question 2

Suppose it costs Minnie's Mini-Golf (a monopolist) not a penny more to let another person on the course. If Minnie's faces a linear (downward-sloping) market demand curve, it will maximize profit by choosing the point on the demand curve at which
 a. marginal revenue is greatest
  b. price elasticity is unit elastic
  c. price elasticity is inelastic
  d. price exceeds average total cost by the greatest amount
  e. price exceeds marginal cost by the greatest amount


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

leahchrapun

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

C

Answer to Question 2

B


sdfghj

  • Member
  • Posts: 552
Reply 2 on: Jun 30, 2018
Wow, this really help

adf223

  • Member
  • Posts: 304
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Eclipse Paths for Total and Annular Eclipses 2001–2020 Eclipse Paths for Total and Annular Eclipses 2001–2020
The Increasing Cost of Health Care, 1960–2010 The Increasing Cost of Health Care, 1960–2010
Cost Savings with an EHR System Cost Savings with an EHR System
Anglin's estimates of the total vocabulary of children in Grades 1, 3, and 5 Anglin's estimates of the total vocabulary of children in Grades 1, 3, and 5
Three mechanics worked 15 1/2, 14 3/4, 18 1/8 hours respectively. What was the total Three mechanics worked 15 1/2, 14 3/4, 18 1/8 hours respectively. What was the total
Calculate the weighted-average cost of the following inventory purchases:DateQuantity ... Calculate the weighted-average cost of the following inventory purchases:DateQuantity ...
Video: Coaductile pathway, Timing of contraction signal & Conduction system and ECG

For a complete list of videos, visit our video library