In the above figure, what would be the profit or loss at the profit-maximizing output for this natural monopolist?
A. -$1,200
B. $2,100
C. -$300
D. $2,700
Answer: B
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Would the use of money, as opposed to barter, increase the growth rate of real GDP in a country over time? Why or why not?
What will be an ideal response?
By 1916, there were 340,000 corporations in the U.S. The growth in the number of corporations was partly due to
a. increasing numbers of urban dwellers. b. the development of formal markets for stocks and bonds. c. the acceptance by most states of the doctrine of limited liability. d. mass production which led to lower per-unit costs for output. e. All of the above.
If a monopolistically competitive firm's demand curve is shifting left, it will stop shifting only when:
A. firms stop leaving the industry. B. firms stop entering the industry. C. the firm raises its price. D. the firm lowers its price.
Which of the following would cause an increase in quantity of wheat supplied?
A. New, better technology for farming is introduced B. The price of fertilizer farmers use in their fields falls C. The price firms pay for liability insurance falls D. The price farmers receive for their wheat rises