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>
No, it is a fantasy movie. Science Fiction is mostly centered around Science, Fantasy deals with magic and dragons etc.
Answer:
A society has various individuals having different opinions and beliefs. It is not possible to create a society of people with the same opinion. Some selfish people want their opinions to be given utmost importance. When people are not willing to accept and respect the opinions of different people, it leads to conflict in the society.
Final Answer
Conflicts arise due to lack of cooperation and mutual respect.
