Refer to the graph below . What is the profit-maximizing level of output for this pure monopolist?
A. A
B. B
C. C
D. D
B. B
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When there is an increase in demand,
A. the demand curve shifts to the right of the original demand curve. B. the demand curve rotates clockwise. C. the demand curve shifts to the left of the original demand curve. D. the demand curve rotates counterclockwise. E. a lower price has increased the amount of the good that consumers will buy.
In a certain economy, when income is $100, consumer spending is $60 . The value of the multiplier for this economy is 4 . It follows that, when income is $101, consumer spending is
a. $60.25. b. $60.75. c. $61.33. d. $64.00.
The law of diminishing marginal productivity applies whenever:
A. output is increased. B. only one input is increased. C. decreasing returns to scale are present. D. all inputs are increased.
A straight-line production possibilities curve has
A. a constant opportunity cost between the two goods. B. an increasing opportunity cost between the two goods. C. a decreasing opportunity cost between the two goods. D. no opportunity cost between the two goods.