The correct answer is C.
A monopoly is a market structure where a single firm serves the whole demand of a specific good or service. It does not face competitors, therefore, such firm has absolute market power to decide the price charged for its products.
So, the monopoly is able to charge a higher price than in a perfect competition scenario where the price would be set at the intersection betweeen the demand function and the marginal cost function.
Instead, the quantity sold in the monopoly (<u>q*) is determined by the intersection of the marginal revenue and marginal cost curves, and the monopoly price is computed by substituting q* in the expression of the demand function </u>(because the demand function relates price and quantity).
<u>The result is 15$ as the picture shows. </u>
Answer:
C
Explanation:
Almost 30% of manufacturing jobs in Texas during the 1920s were in the oil industry.
It's definitely c of am rong sorry
He decided to spilt the roman empire
In all American states, the governor is directly elected by the people.
Voters in the state usually register with one party (Republican, Democrat, or Independent), and during <u>primaries</u>, cast their vote for the candidate who will run for governorship for this party.
During the following <u>general election</u>, the winners of these primaries face the winners for the other parties.
A governor's term is 4 years, except in Vermont and New Hampshire, where it is 2 years. In most states, there is a limit of 2 consecutive terms.
