A monopolist faces the inverse demand curve P = 60 - Q. It has variable costs of Q2 so that its marginal costs are 2Q, and it has fixed costs of 30. The monopoly's maximum profit is
A) 220.
B) 370.
C) 420.
D) 510.
C
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Scarcity forces people to
A) cheat and steal. B) consume as much as they can as quickly as they can. C) choose among available alternatives. D) live at a low standard of living. E) be unwilling to help others.
A policy of tariff reduction in the computer industry is
A) in the interest of the United States as a whole and in the interest of computer producing regions of the country. B) in the interest of United States as a whole but not in the interest of computer producing regions of the country. C) not in the interest of the United States as a whole but in the interests of computer producing regions of the country. D) not in the interest of the United States as a whole and not in the interests of computer consumers. E) not in the interest of the United States as a whole but in the interests of foreign computer producers.
Which of the following was signed in the Kyoto Protocol?
A) the Framework Convention on Climate Change B) the Zero Greenhouse Gas Agreement C) the Treaty on Global Warming D) the Emission Trading Scheme
Two goods that are substitutes are:
a. bacon and eggs. b. camera and film. c. tennis racket and tennis balls. d. movie theater tickets and video rentals. e. coffee and cream.