A monopolistic competitor earns a profit of $1,800 by selling 900 units of output at a price of $15 per unit. This implies its average cost of production is _____
a. $25
b. $15
c. $13
d. $2
c
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According to this Application, which of the following were given to parents who immunized their children?
A) dal (a common Indian food) B) a set of cooking pans C) rupees D) both A and B
The optimal level of air quality
a. is always zero b. occurs when the marginal social cost of air quality exceeds the marginal social benefit c. is greater if the marginal social benefit curve of air quality shifts rightward d. occurs when positive externalities are eliminated e. eliminates the common pool problem
The popular and dominant school of economists in the 1930s who could not explain why the economy went into a depression were the:
A. Austrian School. B. Ricardians. C. Mercantilists. D. Classical School.
Refer to the information provided in Table 13.3 below to answer the question(s) that follow. Table 13.3Price ($)Quantity4.001003.502003.003002.504002.005001.506001.00700Refer to Table 13.3. If a monopoly faces the demand schedule given in the table, what is its marginal revenue from the 600th unit it sells?
A. -$1 B. $1 C. $1.50 D. $100