Refer to Figure 15-3. Suppose the monopolist represented in the diagram above produces positive output. What is the profit/loss per unit?
A) loss of $7 per unit B) profit of $14 per unit
C) profit of $30 per unit D) loss of $21 per unit
A
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In June 2008, $1 bought 0.5 pounds and in October, $1 bought 0.65 pounds. As a result of this change, ________ between June and October
A) the demand for dollars increased B) the dollar appreciated and the quantity of dollars demanded decreased C) the dollar depreciated and the quantity of dollars demanded decreased D) the demand for dollars decreased
In the later part of the twentieth century, the price of crude oil began to increase after decades of relatively steady prices, which of the following could explain this phenomenon?
A) Worldwide reserves have been increasing. B) Worldwide demand has been increasing. C) Global warming D) Extraction technology has been degrading.
Securities exchanges pay no attention to hedge funds
a. True b. False
Product differentiation refers to:
A. the process of creating a standardized product with a lower-cost method than the competitors' method. B. firms who offer similar products to their competitors' products, but that are more attractive in some way. C. consumers who sort and group goods based on similar characteristics. D. the process of informing the public of differences in products as a result of error.