At an output level of 100, a monopolist faces MC = 15 and MR = 17. At output level q = 101, the monopolist's MC = 16 and MR = 15. To maximize profits, the firm
A) should produce 100 units.
B) should produce 101 units.
C) cannot maximize profits.
D) is not a monopoly.
A
Economics
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Economists assume that the goal of consumers is to
A) make themselves as well off as possible. B) do as little work as possible to survive. C) consume as much as possible. D) spend all their income.
Economics
Refer to Figure 10-6. Which diagram demonstrates an increase in total utility following a decrease in the price of popcorn?
A) the movement from d to e in Panel A B) the movement from f to g in Panel B C) the movement from h to k in Panel C D) none of the above
Economics