Refer to the figure above. What is the price that the monopolistic firm would charge?
A) $0
B) $3
C) $6
D) $9
C
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If you buy a bond issued by Intel, the bond is a(n):
A) liability to Intel and an asset to you. B) liability to you and an asset to Intel. C) liability to both you and Intel. D) asset to both you and Intel.
____________ regulation is based on setting the price of, say, water or electricity, at the average cost of production while allowing a normal profit for the firm.
a. Price cap b. Cost-plus c. Fixed price d. Bundling
Which of the following will NOT occur when a tariff is imposed on an imported product?
A. The price paid by consumers will rise. B. The price received by importers will fall. C. The level of imports will fall. D. The demand curve for imports will shift to the left.
All but which one of the following could shift the supply curve for bicycles?
A. An increase in the price of aluminum used in the bicycles. B. An increase in the price of bicycles. C. An increase in the number of bicycle manufacturers. D. A new, cheaper way of producing bicycles.