Answer:
The answer to this question is A
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
Learn more about Marginal revenue :
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Answer:
the answer is as follows
Explanation:
First of defining real wages is a cumbersome process. The living wage calculator developed by MIT professor Amy Glasemeier in 2004 eased the way a little but that too has it's issues.
The paper you are trying to write should start with this that how the idea of living wages is in itself difficult to be adopted as it is. Second the free market approach has been more successful in the economic history and a lot of evidence and data is available on that. The analysis that your paper will develop should outline the concerns that mainstream economists have regarding living wages and support it with some actual data.
The presentation would be rather easy after writing the paper. Which will include some graphs and data and some scholarly citations and it should work.
The answer is b i believe have a good day
