Title: A monopolist will be able to earn positive pure economic profits regardless of the price elasticity ... Post by: anu30 on Feb 27, 2018 A monopolist will be able to earn positive pure economic profits regardless of the price elasticity of demand.
a. True b. False Indicate whether the statement is true or false QUESTION 2 Michael spends 10 a month on Pez dispensers and Superman action figures. His marginal-utility-to-price ratio for the Pez dispensers is 40, while his marginal-utility-to-price ratio for Superman action figures is 47 . Explain why Michael is not maximizing his utility and how can he change his behavior to increase his utility? QUESTION 3 A monopolist always selects a price on the elastic portion of its demand curve. a. True b. False Indicate whether the statement is true or false QUESTION 4 Use the idea of interpersonal comparisons of utility to argue for a progressive income tax system where people in higher income brackets are charged higher tax rates on their extra income. QUESTION 5 Pure economic profit must be at a maximum for a monopolist who has a level of output in which total revenue is at a maximum. a. True b. False Indicate whether the statement is true or false Title: A monopolist will be able to earn positive pure economic profits regardless of the price elasticity ... Post by: Mohd123 on Feb 27, 2018 Title: A monopolist will be able to earn positive pure economic profits regardless of the price elasticity ... Post by: anu30 on Feb 27, 2018 Thank you for answering correctly!
|