A single-price monopoly has marginal revenue and marginal cost equal to $19 at 15 units of output where the price on the demand curve is $38. At what price will this firm sell the output?
A) $19
B) $38
C) $285
D) $570
E) There is not enough information given to answer the question.
B
You might also like to view...
In the income-expenditure model, equilibrium output is the level of output at which the 45-degree line intersects the planned expenditures line. Explain why this output level is an equilibrium level
Illustrate your answer with a diagram of the income-expenditure model.
Which of the following is a legal entry barrier established by government?
a. Patents. b. Copyrights. c. Government franchises. d. All of the above.
Lulu did not vote in the last election. When Ari asked her why, she said, “None of the candidates thinks like I do, and there are so many voters that what I want and my vote don’t matter. I’m not wasting my time playing a game and throwing away my vote.” What would a public choice economist say about Lulu?
a. She lacks basic logic. b. She is a traitor. c. She does not understand economics. d. She is rationally ignorant.
Which of the following will cause an outward (rightward) shift of the supply curve for TVs?
A. A decrease in the price of TVs B. An improvement in TV technology C. An increase in the price of TVs D. A decrease in the number of firms producing TVs