Refer to Monopoly Problem. The equation for this monopolist’s marginal revenue is
Consider a monopoly with constant marginal costs of $20. Consumers in the market for this monopoly’s product have demand of Q = 100 - 2P.
a. MR = 100 - 2P
b. MR = 100 - 4P
c. MR = 50 - 0.5Q
d. MR = 50 - Q
d. MR = 50 - Q
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Refer to the table below. What is Crunchy Fruits total marginal cost to produce 15,000 units?
Crunchy Fruits makes dried fruit snacks. Crunchy Fruits has a multi-plant firm with two production facilities. The table above summarizes the marginal cost of production at the individual plants and the corresponding quantity produced at the individual plants.
A) $2.25
B) $4.50
C) $3.75
D) $3.25
For a closed economy, GDP is $12 trillion, consumption is $7 trillion, taxes net of transfers are $3 trillion and the government runs a deficit of $1 trillion. What are private saving and national saving?
a. $5 trillion and $3 trillion, respectively b. $5 trillion and $1 trillion, respectively c. $2 trillion and $3 trillion, respectively d. $2 trillion and $1 trillion, respectively
If the expansion of output in an industry leads to unchanged resource prices, the industry is most likely to be a(n):
A. decreasing cost industry. B. increasing cost industry. C. constant cost industry. D. industry characterized by economies of scale.
Assume that in the short run a firm is producing 100 units of output, has average total costs of $100, and average variable costs of $50. The firm's total fixed costs are
A) $50. B) $5,000. C) $150. D) $15,000.