Top Posters
Since Sunday
w
3
w
3
e
3
3
r
3
b
2
M
2
V
2
f
2
c
2
c
2
K
2
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
Kaevyn04 Kaevyn04
wrote...
Go to Answer
Posts: 480
Rep: 17 0
5 years ago

Question 1.

A profit-maximizing monopolist will ________ where marginal revenue is equal to marginal cost.



▸ produce output

▸ charge the selling price

▸ minimize its average total cost

▸ All of these are correct.

Question 2.

The Time-for-a-Change wristwatch company holds a patent on holographic wristwatches. The company can earn a profit on the sale of holographic wristwatches



▸ in the short run but not in the long run because new firms will enter the industry in the long run.

▸ only in the long run because government regulations prevent monopolists from earning profits in the short run.

▸ in the long run but not the short run because the monopolist will face competition in the short run.

▸ in the long run because entry into the industry by new firms is blocked until the patent expires.
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
Read 96 times
1 Reply
Replies
Answer verified by a subject expert
anuja709anuja709
wrote...
#1
Posts: 375
Rep: 64 0
5 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

Kaevyn04 Author
wrote...

5 years ago
Correct Slight Smile TY
larrybrads
wrote...

Yesterday
Just got PERFECT on my quiz
jmelchor77
wrote...

2 hours ago
Good timing, thanks!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  369 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 1103
  
 279
  
 349