Figure 11-9

In Figure 11-9, how much more than the long-run competitive price will the profit-maximizing monopolist charge?

Lectures in microeconomics can be delivered either by an instructor (labor) or a movie (capital) or any combination of both. Yet, it gets harder and harder to substitute more movies for an instructor the more movies are already used

Which graph in the above figure best represents the isoquants for lectures in microeconomics when units of capital per day is on the vertical axis and units of labor per day is on the horizontal axis? A) Graph A B) Graph B C) Graph C D) Graph D

Refer to the information above. The labor force is

A) 20 million. B) 40 million. C) 60 million. D) 80 million. E) 100 million.