Answer: In a market served by a monopoly, the marginal cost is $60 and the price is $110. In a perfectly competitive market, the marginal cost is $60. If the marginal cost increased from $60 to $75, the monopoly would raise its price <u>by less than $15</u>, and the price in the perfectly competitive market would <u>increase to $75.</u>
Explanation: The monopolist attends to the market demand, therefore the choice of the monopolist is limited by the market demand. If you set a very high price, you will only sell the amount that the demand you want to buy at that price, so it will only increase by less than $ 15.
In a market of perfect competition the companies are accepting price and will produce until the price is equal to the marginal cost so the price would rise to $ 75.
Answer:
A) The firm can ratify Haskin's actions and take over the contract.
Explanation:
Hanskin's was not explicitely allowed to buy the property in Arizona, but he did it with the intention of increasing the amount of assets that the real estate company holds.
The board of directors should simply take over the contract as long as it is profitable (it most likely is), and analyze whether to change its policies about property purchasing or not, because requiring a board resolution for each one of them can make the process slow and increase opportunity costs.
The percent change in quantity demanded of a good divided by the percent change in income, all other tings unchanged, is the price elasticity of demand. This is the equation you will use when finding the price elasticity of demand. Price elasticity of demand is measuring the demand of a product or service when nothing changes besides the price.
Jessica is experiencing sexism from her coworkers.
