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:
Laos
Explanation:Laos is the only landlocked country in Southeast Asia bordered by Cambodia, China, Myanmar, Thailand and Vietnam.
Expect a voice in their Government.
Answer:
The correct answer is B. The difference between open and closed primary elections is that open primaries allow any voters to participate, while closed primaries are restricted to party members.
Explanation:
A primary election is an election in which voters under a determinated jurisdiction select the candidate that a party will present to a later public election. In other words, it is a democratic way of pre-selecting the candidate that a party will present to a certain electoral process.
In closed primaries, only registered members in the party can vote, but not the independent electors. On the other hand, in open primaries a registered voter can vote in any primary of any party regardless of their political affiliation.
