Show, or explain, why a monopolist with positive marginal costs charges a price on the elastic range of his/her demand curve
In the elastic range of demand, marginal revenue is positive. To maximize profit with positive marginal
cost, marginal revenue must be positive and equal to marginal cost.
Economics
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Briefly discuss the main advantage of the bimetallic standard over the gold standard
What will be an ideal response?
Economics
If a worker responds to an increase in the opportunity cost of leisure by taking more leisure, then her labor supply curve is
a. upward sloping. b. backward sloping. c. horizontal. d. vertical.
Economics