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28 Sep 2019
State whether you agree or disagree with each of the followingstatements. Using appropriate diagrams and or equations, explainyour response.
a. Producing output where MC=MR does guarantee that a firm willmake a profit.
b. A profit maximizing monopolist must operate on the elasticportion of the demand curve.
c. Since a monopoly is a âbadâ thing for consumers but a âgoodâthing for producers, on balance, we cannot be sure that monopoly isresponsible for any loos in economic efficiency.
d. A price-discriminating monopolist will charge a higher price inthe market where demand is less elastic.
State whether you agree or disagree with each of the followingstatements. Using appropriate diagrams and or equations, explainyour response.
a. Producing output where MC=MR does guarantee that a firm willmake a profit.
b. A profit maximizing monopolist must operate on the elasticportion of the demand curve.
c. Since a monopoly is a âbadâ thing for consumers but a âgoodâthing for producers, on balance, we cannot be sure that monopoly isresponsible for any loos in economic efficiency.
d. A price-discriminating monopolist will charge a higher price inthe market where demand is less elastic.
a. Producing output where MC=MR does guarantee that a firm willmake a profit.
b. A profit maximizing monopolist must operate on the elasticportion of the demand curve.
c. Since a monopoly is a âbadâ thing for consumers but a âgoodâthing for producers, on balance, we cannot be sure that monopoly isresponsible for any loos in economic efficiency.
d. A price-discriminating monopolist will charge a higher price inthe market where demand is less elastic.
manhokwe tawandaLv10
29 Sep 2019
