Author Question: Refer to Scenario 12.2. What is the profit maximizing price? A) 205.72 B) 240 C) 210 D) all ... (Read 49 times)

c0205847 · **on:** Jul 1, 2018

Refer to Scenario 12.2. What is the profit maximizing price?

A) 205.72
B) 240
C) 210
D) all of the above
E) none of the above

Question 2

Which of the following is TRUE concerning equilibrium in a monopsonistic factor market?

A) The firm uses the efficient level of the input but does not maximize profit.
B) The firm maximizes profit but does not use the efficient level of the input.
C) The firm maximizes profit and uses the efficient level of the input.
D) The firm either maximizes profit or uses the efficient level of the input, but it cannot do both at the same time.