Monopolies are inefficient because
A) they price discriminate.
B) they maximize profits.
C) they always make above-normal profits.
D) they charge a price above marginal cost.
Answer: D
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Exhibit 36-4 ? Stock High Low Close Net chg. Brown, Inc. 55.75 33.65 42.10 (A) Greenco 78.50 45.75 (B) -0.75 Black Motors 81.50 65.90 76.00 (C) ? ? Refer to Exhibit 36-4. If the closing price of Greenco's stock on the previous day was $48.10, what value goes in blank (B)?
A. $47.35 B. $48.85 C. $45.85 D. $47.85 E. There is not enough information given to answer this question.
Total expenditure equals price times elasticity
a. True b. False Indicate whether the statement is true or false
The accompanying table below shows the relationship between the number of times you get your car washed each month and your total monthly benefit from car washes. Each car wash costs $15. Number of Car Washes Per MonthTotal Monthly Benefit from Car Washes0$01$202$363$484$565$60 How many times a month should you get your car washed?
A. 4 B. 1 C. 3 D. 2
Which of the following happens at q2?
a. P2 = ATC
b. P2 > ATC
c. P2 < ATC
d. P2 ÷ ATC