The answer is $7 because Marginal revenue is the change in total revenue from 10 customers ($400) to 11 customers ($407) How a monopolist maximizes profits
How does a monopolist determine its profit-maximizing level of output How does it determine the price that it charges?
The monopolist will select the profit-maximizing level of output where
MR = MC
and then charge the price for that quantity of output as determined by the market demand curve. If that price is above average cost, the monopolist earns positive profits.
How a monopolist maximizes profits
Because Chuck, a sole commercial airplane operator in small isolated town, has no competition, he has complete control of market price of air travel in his small tone
Reduced price → increase in ticket sales
Monopoly maximizes profit by choosing an amount of profit in which marginal revenue equals marginal cost (MR= MC) Since Chuck must reduce his price to sell more units, he has an incentive to sell a smaller quantity than a perfective competitive company
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Answer:
dual price
Explanation:
According to my research on economics, I can say that the improvement in the value of the objective function per unit increase in a right-hand side is referred to as the dual price. This strategy is used by most businesses as a way of taking market shares away from their competitors.
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Answer:
$375,000
Explanation:
New Navy Stores Co. had Merchandise Inventories of $150,000 on January 1st. During the year, the company purchased $230,000. A count of the inventory on December 31st, found total inventories remaining of $105,000.
The Cost of goods sold for the year is derived by
Beginning Inventory .........150,000
Add: Purchases..................230,000
Goods Available for sale..480,000
Less: Ending Inventory......105,000
Cost of Goods Sold...........375,000
Answer:
Angie works as your assistant and has come up with a brilliant idea. You have an opportunity to present the idea to your boss, but not give Angie credit for the idea. You can say it was your idea, and no one but you and Angie will ever know.
Evaluate the solutions (what are all the solutions to the issue – both ethical and unethical)
Explanation:
It is unethical to do such, it is morally wrong to plagiarize someone's idea without their knowledge, one could be sue for such in court of law and may probably be fined or send to jail
Answer: b. lowers; raises; lowers
Explanation:
Lowers; Raises; Lowers
contractionary monetary policy refers to the central bank reducing or decreasing the supply of money in the economy. A decrease in the supply of money <u>lowers</u> real Gross domestic product because Nominal Gross domestic product decreases, unemployment will <u>raise</u> and Prices will <u>fall</u> because the economy remains with less capital.