In the above figure, what would be the profit or loss at the marginal cost pricing point for this natural monopolist?
A) -$300
B) $2,700
C) $2,100
D) -$1,200
D
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In an hour, Sue can produce 40 caps or 4 jackets and Tessa can produce 80 caps or 4 jackets. Who has a comparative advantage in producing caps? If Sue and Tessa specialize and trade, who will gain?
What will be an ideal response?
Simplifying the budget document by concentrating only on major groupings and eliminating line items would: a. ensure that cabinet members spend more time on administering an approved budget and defending a proposed budget. b. require longer-term economic forecasts that are difficult to obtain
c. prevent elected officials from including projects they prefer for their personal gains in the budget. d. increase the flexibility of the discretionary fiscal policy implemented by the federal government. e. require shorter-term economic forecasts that are easy to obtain.
In the late 1990s, Thailand, Malaysia, and Indonesia all experienced sharp declines in the value of their currencies; this resulted in economic instability and crisis. The collapse in the values of their currencies undermined their development by:
A. decreasing political instability. B. decreasing population growth. C. increasing corruption. D. reducing investment.
Refer to the above table. Given the demand and cost schedules, what is the profit-maximizing price for this monopolist?
A. $10 B. $12 C. $9 D. $11