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 354 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
:D TYSM

xthemafja

  • Member
  • Posts: 348
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Types of paralysis: (A) Quadriplegia is complete or partial paralysis of the upper extremities and c Types of paralysis: (A) Quadriplegia is complete or partial paralysis of the upper extremities and c
When the United States gets stuck over a controversial issue—usually something a divided Congress ca When the United States gets stuck over a controversial issue—usually something a divided Congress ca
Review Bundling, Add-on Codes, and Quantity Edits Review Bundling, Add-on Codes, and Quantity Edits
Total allowable and actual catch, Grand Bank Atlantic Cod 1959 -2012 Total allowable and actual catch, Grand Bank Atlantic Cod 1959 -2012
When operating your own business, it is wise to know your cost of capital and that of the ... When operating your own business, it is wise to know your cost of capital and that of the ...
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Video: Protein digestion - stomach & small intestine

For a complete list of videos, visit our video library