A monopolist's profit maximizing price depends upon:
A. the elasticity of demand.
B. the level of demand.
C. the elasticity of supply.
D. the level of supply.
A. the elasticity of demand.
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What would happen to an economy if the government funded an increase in spending with an equivalent increase in taxes?
What will be an ideal response?
Gross domestic product measures the ________ value of ________ goods and services produced during a ________ time period
A) inherent; market; fixed B) final; intermediate; stable C) intermediate; final; constant D) market; final; given
Which of the following statements is true of a country that has a gold standard exchange rate system?
A. A country running a deficit in its balance of payment would experience an outflow of gold which would force it to increase the price of gold. B. A country running a deficit in its balance of payment would experience an outflow of gold which would force it to decrease the price of gold. C. A country running a deficit in its balance of payment would experience an outflow of gold which would force it to reduce its money supply. D. A country running a deficit in its balance of payment would experience an outflow of gold which would force it to increase its money supply.
The Sunshine Corporation finds its costs are $40 when it produces no output. Its total variable costs (TVC) change with output as shown in the accompanying table. Use this information to answer the following question.OutputTVC1$302503654855110Refer to the above information. The average total cost of 3 units of output is:
A. $35. B. $65. C. $21.67. D. $40.