In the Gilded age, monopolies affected the small businesses as the monopolies forced small businesses to shut down. A monopoly arises when a single corporation dominates the market for a given product or service.
Monopolies frequently result in the closure of the smaller businesses. One business can regulate the product prices when it controls a particular market. Due to their size, most the monopolizing businesses can afford to reduce their prices so much that no small business can compete. Because of this, the smaller companies are left with no alternative except to shut down or combine with the monopolizing firm.
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<span>High paid workers are reluctant to shrink because the unemployment rate is very high so if you leave your position you may not find another that is equally as good or better. That is why high paid workers do not shrink.</span>
a) Yes, $67 exceeds the loss—minimizing output.
Using the MR
They will produce 9 units.
Profits per unit = $67 - $50 = $17
Total profit =
$153.
(b) Yes, $42 exceeds the loss—minimizing output.
Using the MR
They will produce 6 units
Loss per unit is = $42 - $47.50 = $5.50
Total loss = $33 (= 6 x $5.50), which is less than the total fixed cost of $60.
c) No, because $33 is less than AVC. If it did produce, the quantity will be 4—By producing 4 units, it would lose $78 [= 4 ($33 - $52.50)]. and if they didn't produce, it would lose only the total fixed cost of $60.
The answer is: [A]: "vertical scope" .
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