At a certain level of production, the average total cost faced by a monopolist is $6 and the marginal cost faced by the monopolist is $4
If the government decides to regulate the market by setting the price at the efficient price, the good will be sold at a price of: A) $2 per unit.
B) $4 per unit.
C) $6 per unit.
D) $10 per unit.
B
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The American manufacturers of Pet milk unknowingly introduced their product in French-speaking markets without realizing that the word pet in French means "to break wind." Likewise, the English-speaking representative of a U.S. soft-drink manufacturer naively drew laughs from Mexican customers when she offered free samples of Fresca soda pop, because in Mexican slang the word fresca means "lesbian." These are examples of ________.
Which of the following is NOT a feature of a common market?
A) Substantial coordination of macroeconomic policies among the members B) Free trade in goods and services between the members C) Common external barriers to trade D) Factor mobility
In economics, interest refers to all of the following EXCEPT
A. the return paid to the owners of capital. B. the payment for current rather than future command over resources. C. the cost of obtaining credit. D. the return paid to owners of financial institutions.
Nobel laureate economist Ronald Coase suggests that pollution problems could be solved if
A. people used a community spirit rather than a self-interested motive when making decisions. B. community property was made the norm. C. community property was owned by self-interested parties. D. people simply thought about the costs of their actions.