A monopolist faces the inverse demand curve P = 60 - Q. It has variable costs of Q2 so that its marginal costs are 2Q, and it has fixed costs of 30. The monopoly's profit maximizing price is
A) 55.
B) 50.
C) 45.
D) 40.
C
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If the price level in the current period is higher than what buyers and sellers anticipated,
a. profit margins will be unattractive and firms will expand output. b. profit margins will be unattractive and firms will reduce output. c. profit margins will be attractive and firms will expand output. d. profit margins will be attractive and firms will reduce output.
What are the two main problems that have caused the demise of the command systems?
Please provide the best answer for the statement.
Of the children who grew up in long-term poverty (those living at least 9 years of their childhood in poverty), what percentage of them are from black families?
A. 50. B. 60. C. 70. D. 80.
Most economists believe that classical theory describes the world
a. in the short run. b. in the long run. c. in both the short run and the long run. d. in neither the short run nor the long run.