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:
Kuwait
Explanation:
Kuwait is a small country in western Asia located in the northwestern corner of the Persian Gulf between Iraq and Saudi Arabia. Kuwait has oil reserves which was discovered in 1938 and exportation of the crude oil started in 1946, and nomadic herding takes place there as well. Kuwait has a total population of about 4.1 million people with its largest cities having a population of less than 1 million people. Kuwait is largely a desert and is entirely in a desert scrub vegetation zone.
Coordinating the development, implementation and monitoring of a web-based system to register all learning programmes within the post-school system that require Work Integrated Learning. Ensuring that the Work Integrated Learning (WIL) system is integrated and linked with other systems within the post-school education
