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>
Here is the answer to number 1: The Egyptians created a 360 day calendar, and sundials to keep track of time.
Hope this helps!
Answer:
yes I give
Explanation:
Regular maintenance and repairing of old and broken or damaged sites. - Public awareness about the importance of cultural heritage and way to preserve them. - Strict security should be maintained. - Control of pollution around the cultural heritage sites.
