Suppose that the profit maximizing level of output for the monopolist is 100 units, and ATC = $45.00; MC = $35.00; MR = $35.00; P = $60.00. What is the monopoly's profit?
A) -$1000
B) $4500
C) $5000
D) $1500
Answer: D
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Open market operations refers to the Fed's
A) manipulation of the required reserve ratio. B) purchase and sale of government bonds. C) manipulation of the discount rate. D) use of all of the above techniques.
The table above gives Jane's total utility from magazines and CDs. The price of a magazine is $4 and the price of a CD is $10. What is the marginal utility per dollar from CDs when the sixth CD is purchased?
A) 40 units B) 30 units C) 15 units D) 5 units
Which of the following will NOT cause the public debt to change?
A) collection by the government of $200 billion more in taxes than it spends B) government budget deficit C) government budget surplus D) balanced budget
Historical data depicted on a scatter diagram show that consumer spending and disposable income
a. converge as income grows. b. generally move together. c. diverge as income grows. d. show no clear relationship.