You are the manager of a monopoly that faces a demand curve described by P = 63 ? 5Q. Your costs are C = 10 + 3Q. The profit-maximizing output for your firm is:
A. 6.
B. 5.
C. 4.
D. 3.
Answer: A
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Data indicate that the economy's response to monetary policy became noticeably weaker and more stretched out during
A) 1961-75. B) 1976-90. C) 1991-2007. D) None of the above. The response has grown stronger and shorter.
One disadvantage of the gold standard was that no nation had control of its domestic monetary policies
a. True b. False Indicate whether the statement is true or false
Which of the following is NOT a condition of a perfect competition:
A. each firm has complete knowledge about production and prices B. industry sales are small C. unrestricted entry and exit D. a single firm cannot affect market supply E. products produced by rival firms are perfect substitutes
During a recession, we generally see
a. real GDP rising and unemployment rising b. real GDP falling and unemployment rising c. real GDP rising and inflation rising d. real GDP rising and inflation staying stable