Answer:
d. Supply is perfectly elastic.
Explanation:
Perfectly elastic supply is when a change in price causes supply to fall to zero.
The supply curve is usually an horizontal line.
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Answer:
A). The demand curve looked by the flawlessly serious firms are splendidly versatile this is a result of the items selling in the ideal rivalry. The items are indistinguishable so no firm has power over the market cost, in the event that one firm builds the cost of the item the purchasers will quickly move to the result of different firms on the grounds that the items are indistinguishable. No firm has the motivator lessen the cost of their item. So the interest bend would be a level straight line corresponding to the X pivot, this demonstrates the interest is splendidly versatile. A cost increment will bring the amount requested to zero.
B). The monopolists is just the single vendor in the market, so he can charge any value he needs, yet the amount requested will be relied on the value he charges. For instance in the event that he charges a significant expense the amount demanded will be very less and the other way around. So the monopolist is capable sell more at lower costs just, the descending inclining request bend shows the negative connection between the cost and the amount requested.
C). In the ideal rivalry there is consummately flexible interest so the MR curve is likewise the interest curve of the firm. For the monopolist the MR curve lies underneath the interest curve, as the costs go bring down the MR decreases.
Answer:
The correct answer is B.
Explanation:
Giving the following information:
The variable costs are $4.50 per unit. London Plastics sell 15,000 units.
To calculate the total variable costs we need to use the following formula:
Total variable cost= unitary variable cost* total amount of units
Total variable cost= 4.5*15,000= $67,500
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Answer: Option C
Explanation: The maximum amount of money that a consumer is willing to pay for having an additional unit of a good or service is called the marginal benefit. Whereas, marginal cost refers to the increase in total cost when one more unit of output is produced.
In the given case, we want to use the available resources at their best, therefore, the money on pollution control should be spent only until the benefit of spending one more dollar is greater than the cost of doing so.
Hence, the correct option is C.
