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

Author Question: A monopoly's economic profits are represented by a. price minus marginal cost times number of units ... (Read 52 times)

Bob-Dole

  • Hero Member
  • *****
  • Posts: 547
on: Jul 1, 2018
A monopoly's economic profits are represented by
 a. price minus marginal cost times number of units sold.
  b. price minus average cost times number of units sold.
  c. marginal revenue minus price times number of units sold.
  d. marginal cost minus price times number of units sold.

Question 2

The supply curve for a monopoly is given by
 a. the firm's marginal cost curve above the average variable cost curve.
  b. the one point on the demand curve that corresponds to the quantity for which price is equal to marginal cost.
  c. the entire demand curve above the point where price is equal to average cost.
  d. the monopolist does not have a well-defined supply curve.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

lcapri7

  • Sr. Member
  • ****
  • Posts: 350
Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

d


Bob-Dole

  • Member
  • Posts: 547
Reply 2 on: Jul 1, 2018
Gracias!

adf223

  • Member
  • Posts: 304
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

A recruiting poster for the “True Sons of Freedom” encouraged African Americans to enlist. In fact, A recruiting poster for the “True Sons of Freedom” encouraged African Americans to enlist. In fact,
Determination of the number of theoretical stages Determination of the number of theoretical stages
Economic and Social Development Economic and Social Development
How to count for the correct number of significant digits How to count for the correct number of significant digits
economic question economic question
economic question economic question
Video: Pericarditis

For a complete list of videos, visit our video library