An unregulated, single-price monopoly is shown in the figure above. If its fixed cost is $20, the monopoly's total economic profit when it is maximizing its profit will be
A) negative.
B) $0.
C) $25.
D) $50.
C
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The law of demand states that
A. the quantity demanded is directly related to price. B. people demand less at lower prices. C. changes in price and changes in quantity demanded move in the same direction. D. the quantity demanded is inversely related to price.
If the price level falls, the
A) quantity of money demanded decreases. B) quantity of money demanded increases. C) demand for money does not change and the quantity of money demanded does not change. D) demand for money increases. E) demand for money decreases.
Families go through good times and bad times financially. It's now bad times for the Althoff family. The family buys more macaroni because its principal income earner has been laid off work for several months. This means that the Althoffs'
a. demand curve for macaroni is elastic b. income elasticity for macaroni is negative c. demand for macaroni reflects Engel's law d. price elasticity of demand for macaroni is greater than one e. price elasticity of demand for macaroni is less than one
When whites are murdered, it is typically at the hands of
A. the races in rough proportion to their population. B. an equal division of blacks and whites. C. other whites. D. blacks.