In the above figure, the monopolist's profit-maximizing price is
A. A.
B. B.
C. C.
D. D.
Answer: A
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Which of the following types of markets would be the most likely to maintain a successful collusive agreement?
a. a market with many sellers, many buyers, unstable market demand, and privately negotiated prices b. a market with few sellers, many buyers, stable market demand, and privately negotiated prices c. a market with few sellers, many buyers, stable market demand, and publicized prices d. a market with many sellers, few buyers, stable market demand, and privately negotiated prices e. a market with few sellers, few buyers, unstable market demand, and publicized prices
Real business cycle theory explains the business cycle as the result of
a. unstable investment demand. b. excess growth of the quantity of money. C. shocks to consumer spending habits d. fluctuations in productivity.
What is economic profit?
What will be an ideal response?
Under the Social Security program currently in existence
A) benefits are based on need. B) benefits are determined by whether or not one contributed to the system. C) benefits are provided to everyone who contributed to the system EXCEPT those under private retirement programs that provide an annual income in excess of $13,500. D) benefits are guaranteed to be no lower for future retirees than for current retirees.