The above figure shows the situation of a monopolistic competitor in the short run. The maximum economic profits of the firm equal
A) $50,000.
B) $30,000.
C) 15,000.
D) zero.
B
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In a pure coordination game, as long as the players coordinate on an outcome, it does not matter what that outcome is
Indicate whether the statement is true or false
If nominal GDP is $230 for a period and real GDP is $200 for the same period, what is the GDP deflator for this period?
What will be an ideal response?
A single-price monopolist will produce the output at which ________
A) marginal revenue equals marginal cost B) demand is perfectly inelastic C) marginal revenue is zero D) demand is inelastic but not perfectly inelastic
In the AS/AD model, the repercussion that a change in aggregate quantity demanded has on production and subsequently on income and expenditures is called the:
A. expenditure effect. B. money wealth effect. C. accelerator effect. D. multiplier effect.