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:
Explanation:
The toothbrush as we know it today was not invented until 1938. However, early forms of the toothbrush have been in existence since 3000 BC. Ancient civilizations used a "chew stick," which was a thin twig with a frayed end. These 'chew sticks' were rubbed against the teeth
Answer:
the cities were like small, independent countries. They each had their own ruler and their own farmland to provide food.
Explanation:
learned about this in like 6th grade
