Answer: Option (d) is correct.
Explanation:
Correct Option: Marginal revenue equals marginal cost.
Pure monopoly is a market situation in which there is a single firm who are producing the goods and these goods are the close substitute. There is no other firm in the market. So, the monopoly firm is the price setter.
The output level that is produced by the profit maximizing monopoly firm is at a point where marginal revenue is equal to the marginal cost. It is the same profit maximizing condition that a competitive firm also utilize to find their equilibrium level of output.
Answer:
No, I don’t think this would be a good loan to make. Even if your sister means the world to you and you believe giving her that amount of money must be for a good cause… you should find out what the loan is for. After all, your sister is a 9 year-old.
Hope it helped! Have a good day.
Answer:
price of iPhones decreases
Explanation:
A decrease in price increases quantity demanded but does not increase demand.
iPhones and Android phones are substitute goods.
Substitute goods are goods that can be used in place of another good.
An increase in the price of androids increases the cost of androids. So, consumers would increases their demand for iPhones.
Because iPhone is assumed to be a normal good. An increase in the price of iPhones would increase the demand for the good.
Normal goods are goods that are goods whose demand increases when income increases and falls when income falls
Data plans and iPhones are complement goods.
Complementary goods are goods that are consumed togethe
A decrease in the price of data plans would increase the demand for iPhones.
This is not true. Anyone that handles account payables, balancing accounts, making purchasing, writing checks etc. need to know basic accounting rules.
Answer:
For efficiency, <u>3 haircuts</u> should be given.
Only three haircuts should be given because only 3 firms have costs that are lower than the customer whose hair they are to cut.
Firm A's cost is less than Kyoto's willingness to pay so Firm A can cut.
Firm B's cost is more than Rina's willingness to pay so Firm B should not cut.
Firm C's cost is less than Jacques's willingness to pay so Firm C can cut.
Firm D's cost is less than Musashi's willingness to pay so Firm D can cut.
That makes only 3 firms that can cut therefore 3 haircuts.
The business that should cut as shown above are:
