Refer to Scenario 12.2. What is the profit maximizing level of ...

[ericka1]

Refer to Scenario 12.2. What is the profit maximizing level of output?
 
  A) 171.43
  B) 120
  C) 150
  D) all of the above
  E) none of the above

Question 2

Under a production quota policy, the government can maintain a particular support price by reducing the quantity supplied. To maintain a particular support price, how must the quota amount change if the demand curve becomes more elastic?
 
  A) Quota amount increases
  B) Quota amount decreases
  C) Quota amount does not change
  D) Quota amount depends on the supply curve

[elyse44]

Answer to Question 1

C

Answer to Question 2

B

[ericka1]

Correct answers!

[elyse44]

Great! Please up vote