Donna owns the only dog grooming salon on Lonely Island. The figure above shows the dog grooming market. Donna is a single-price monopoly that maximizes profit by charging ________ per grooming and producing ________ groomings per day

A) $30; 8
B) $20; $8
C) $20; $12
D) None of the above answers is correct.

A

Economics

You might also like to view...

What are the benefits and costs to Indian citizens of allowing Indian companies to copy and sell patent-protected drugs developed by U.S. companies?

Please provide the best answer for the statement.

Economics

Below, the graph on the left shows the short-run marginal cost curve for a typical firm selling in a perfectly competitive industry. The graph on the right shows current industry demand and supply.If the firm's demand and marginal revenue curves were drawn in the left-hand graph, what would be the elasticity of demand?

A. -0.6 B. zero C. infinitely elastic D. -6 E. unitary

Economics