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: A, B, and C
Explanation:
All of the above can happen while the bill is in committee.
GATHERS INFORMATION THROUGH HEARING
A committee would need to evaluate the merits and demerits of a particular bill before they can propose it. They do this through hearings usually to a subcommittee, which will then present it's findings to the whole committee.
DECISION TO SEND TO FLOOR
After a bill has been evaluated, the committee has the discretion to send the bill to the floor of the House to continue along the legislative process. The Speaker of the house may set time limits on the committee and failure to work on a bill is equivalent to killing it.
CHANGES LANGUAGE OF BILL
The Committee will hold a 'mark-up' session where the bill may be revised and additions made. If the additions are substantial, the bill can reintroduced as a 'clean-bill' which will have a new number as well as the proposed changes.
Answer:
He lacks an understanding of the concept of conservation
Explanation:
Conservation refers to the ability to determine that a certain quantity will remain the same despite adjustment of the container, shape, or apparent size. Omar didn't know the the size of the bowl that was used to serve the pasta doesn't change the quantity of the pasta he will get, he lacks knowledge of the concept of conservation.
