According to the above figure, the profit maximizing price-output combination for the monopolist is a price of
A. 60 cents and an output of 30,000 newspapers per day.
B. 50 cents and an output of 40,000 newspapers per day.
C. 30 cents and an output of 30,000 newspapers per day.
D. 45 cents and an output of 45,000 newspapers per day.
Answer: A
Economics
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When exchange rates change and prices stay the same:
a. relative prices of traded goods in the two nations are unchanged. b. the price of foreign goods expressed in the home currency will always rise. c. imports get more expensive as the home currency depreciates. d. the price of foreign goods expressed in the home currency will always fall.
Economics
If an individual has a 0.3 probability of receiving $10 and a 0.7 probability of receiving $20, the expected income is
A) $20. B) $7. C) $14. D) $17.
Economics