Suppose the accompanying figure shows the demand curve, marginal revenue curve and marginal cost curve for a monopolist.
This monopolist maximizes its profit by producing ________ textbooks per week and charging a price of ________ per textbook.
A. 150; $40
B. 150; $20
C. 100; $40
D. 100; $80
Answer: D
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Answer the next question based on the following data. All figures are in billions of dollars.Personal taxes$40Social security contributions15Taxes on production and imports20Corporate income taxes40Transfer payments22U.S. exports24Undistributed corporate profits35Government purchases90Gross private domestic investment75U.S. imports22Personal consumption expenditures250Consumption of fixed capital25Net foreign factor income10Statistical discrepancy0GDP is ________.
A. $417 B. $492 C. $390 D. $422
Explain what an entrepreneur is and its function
What will be an ideal response?
Economists argue that the move from barter to money increased trade and production. How is this possible?
?
In Exhibit 3-11, in Panel A the movement from point A to point B describes a(n):
A. increase in demand and an increase in the quantity supplied. B. increase in the quantity demanded and an increase in supply. C. decrease in demand and a decrease in the quantity supplied. D. decrease in the quantity demanded and a decrease in supply.