In Figure 8.10, airline Fly Smart is initially a secure monopoly between two cities X and Y at point M, serving 300 passengers per day at the profit-maximizing price of $300 per ticket. What is Fly Smart's total profit as a secure monopoly?
A. $60,000
B. $40,000
C. $44,400
D. $33,600
Answer: A
You might also like to view...
Observers of the economy often complain that indicators of economic activity are often contradictory. This is an example of the ________ lag
A) data B) recognition C) legislative D) effectiveness
The slope of a graph with "income" on the horizontal axis and "saving" on the horizontal axis is +0.2. This means that if: (BOTH SAY HORIZONTAL)
A. Income is $100, then saving is $20 B. Income is 0.20, then saving is zero C. Income increases by $100, then saving will rise by $20 D. Saving rises by $100, then income will rise by $20
A reasonable estimate of the world's population that lives on less than $2 per day is
A. 80 percent. B. 10 percent. C. 40 percent. D. 50 percent.
Which of the following types of expenditures is more volatile than plant and equipment investment?
A. consumption of nondurable goods B. consumption of services C. housing investment D. consumption of durable goods