A monopolist increases output from 4 to 5 units. His total revenue increases from $2,750 to $3,600 . Which of the following inferences is true?
a. The marginal revenue from the 4th unit is $850
b. The marginal revenue from the 5th unit is $850.
c. The total cost of producing the 5th unit is $850.
d. The profit earned from producing the 5th unit is $850.
b
Economics
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Which of the following lists has variables that all shift a good's demand curve?
A) price of the good, preferences, prices of substitution goods, income B) income, preferences, number of buyers, price of complementary good C) expectation of future price, price of the good, number of buyers, income D) Both answers A and B are correct.
Economics
If a state requires all drivers to buy auto insurance, the problem of adverse selection is eliminated
Indicate whether the statement is true or false
Economics