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Author Question: Marginal profit is equal to A) marginal revenue minus marginal cost. B) marginal revenue plus ... (Read 228 times)

rayancarla1

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on: Jul 1, 2018
Marginal profit is equal to
 
  A) marginal revenue minus marginal cost.
  B) marginal revenue plus marginal cost.
  C) marginal cost minus marginal revenue.
  D) marginal revenue times marginal cost.
  E) marginal revenue divided by marginal cost.

Question 2

Gold buyers are located in New York and Zurich. If the price of gold is 400 an ounce, the worldwide demand for gold is 10,000 ounces. Also, the price elasticity of demand for gold in New York and Zurich are -3 and -2 respectively.
 
  If the slope of each demand curve in New York is the same as in Zurich, then the quantity of gold demanded by dealers in Zurich is A) 10,000/3.
  B) 5,000.
  C) 6,000.
  D) 10,000.
  E) none of the above


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reversalruiz

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

C


rayancarla1

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

softEldritch

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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