The demand for a monopoly's output is p = 200 - Q. The monopoly's production function is Q = 2L, and the market wage is $4. How many units of labor will the monopolist employ at its profit maximization level of output?
A) L = 49.5
B) L = 4623
C) L = 198
D) L = 10
A
You might also like to view...
Which of the following is a characteristic of stock?
A) Stock represents ownership in a firm B) Stock represents a promise to repay a fixed amount of funds. C) The face value or principal plus interest is repaid at a specified period of time. D) The length of coupon payments is fixed by the stated maturity period.
The variation in an economic time-series which is caused by major expansions or contractions usually of greater than a year in duration is known as:
a. secular trend b. cyclical variation c. seasonal effect d. unpredictable random factor e. none of the above
The law of increasing opportunity costs states that:
A. if society wants to produce more of a particular good, it must sacrifice larger and larger amounts of another good to do so. B. the sum of the costs of producing a particular good cannot rise above the current market price of that good. C. if the sum of the costs of producing a particular good rises by a specified percent, the price of that good must rise by a greater relative amount. D. if the prices of all the resources used to produce goods increase, the cost of producing any particular good will increase at the same rate.
The text identified the various sources of risk for bonds. Are U.S. Treasury TIPS bonds free from risk? Explain.
What will be an ideal response?