Unique Creations has a monopoly position in magnometers. If the marginal cost for a magnometer is $50 and the price elasticity for magnometers is -4, what is the optimal monopoly price?
a. $37.50
b. $41.25
c. $66.67
d. $75.00
e. $82.50
c
Economics
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Gradual adjustment of prices and wages to an increase in the aggregate demand curve implies that the aggregate supply curve is:
a. horizontal. b. vertical. c. upward sloping but not vertical. d. downward sloping.
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Gross domestic product measures
a. income and expenditures. b. income but not expenditures. c. expenditures but not income. d. neither income nor expenditures.
Economics
Explain how the law of comparative advantage benefits developing countries.
What will be an ideal response?
Economics
The marginal utility of his third action figure would be
Table-Demand and Utility Table for action figures
A. $10.
B. $12.
C. $14.
D. $36.
Economics