Statement that explains Marginal revenue and it can be computed for a monopolist is C:sold.c.change in total revenue per one unit increase in quantity sold.
- Marginal revenue can be regarded as central concept in microeconomics which focus on additional total revenue that us been gotten by increasing product sales by 1 unit.
- In monopolist,it can be computed by change in total revenue with respect to a unit increase that is been sold.
Therefore, option C is correct.
Learn more
brainly.com/question/25404320?referrer=searchResults
Answer:
Price floor non binding
Price ceiling binding
Price ceiling binding
Explanation:
A price floor is when the government or an agency of the government sets the minimum price of a product. A price floor is binding if it is set above equilibrium price.
Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.
A. The minimum price is less than the equilibrium price, thus it is a non binding price floor
b. The maximum price is less than the equilibrium price, thus it is a binding price floor
c. Restaurants that would want to pay better wages are unable to do so. This means that there is a binding price maximum in place
After the trade the other island has a total of 150 coconuts and 1300 fish.
<h3>What do you mean by the comparative advantage?</h3>
Comparative advantage refers to the maximization of the efficiency of the economy and its well being by focusing on the production of those resources, which country can produce and exports them in the exchange of those goods, which a country does not produce.
One can have the comparative advantage at production if it could produce the goods at lower cost as compare to the others.
Here, both the islands focus only on the making of the thing they're best at doing.
Learn more about the comparative advantage here:-
brainly.com/question/13221821
#SPJ1
Responsibility, organization, and good sportsmanship to name a few.
