Suppose the table below describes the relationship between price and quantity demanded for a monopolist.QuantityPrice1$102$93$84$75$66$57$48$3 If the marginal cost of producing each unit of output is $5, the at the monopolist's profit-maximizing level of output, the monopolist produces ________ units of output than is socially optimal.
A. 3 more
B. 2 fewer
C. 1 more
D. 3 fewer
Answer: A
Economics
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After a $3 per-unit tax on seeing movies in theaters is imposed, attendance falls from 4,000 a week to 3,000 a week. The revenue from the tax is
A) less than $9,000 a week. B) $9,000 a week. C) between $9,000 a week and $12,000 a week. D) some amount that cannot be calculated without more information.
Economics
The rate at which a consumer must give up y to get one more x is equal to
A) -Px/Py. B) -Py/Px. C) -MUx/MUy. D) MUy/MUx.
Economics