The above table gives the demand schedule for a single-price monopoly. If the marginal cost is $3, the profit maximizing output for the monopoly will be between
A) 1 to 2 units.
B) 2 to 3 units.
C) 3 to 4 units.
D) 4 to 5 units.
E) Exactly 5 units.
B
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Discuss the role of product differentiation and advertising in monopolistic competition
What will be an ideal response?
One reason the housing bubble occurred is because the:
A. herd instinct caused everyone to stop buying homes. B. securitization of mortgages meant more mortgages were low-risk, attracting investors. C. recency effect affected people's perceptions of home values. D. All of these statements are true.
If the prices of goods and services were expressed in terms of carved wooden beads, then the carved wooden beads would be serving as a:
A. medium of exchange. B. store of value. C. unit of account. D. mechanism for transforming present purchases into future purchases.
All of the following are cited as factors in explaining U.S. competitiveness EXCEPT
A. reducing the federal deficit. B. economic restructuring. C. large investments in scientific research. D. widespread entrepreneurship.