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If a monopolist is producing a quantity where marginal revenue is equal to $125 and the marginal cost is equal to $125, the monopolist should:
A. increase production and lower the price to maximize profits
B. decrease production and increase the price to maximize profits
C. continue producing at the current price to maximize profits
D. increase production and increase the price to maximize profits
E. decrease production and decrease price to maximize profits
The question belongs to Economics, mainly to Micro-economics and it is discusses about a question where the ministry of labor setting up a minimum wage in the labor market and its potential effect on employment.
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Why, from an economic point of view, should antitrust action not be taken against all monopolies
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Calculate the implied arc income elasticity of demand. I =? Given a price elasticity coefficient of -2.5, to what level would price have to be lowered to maintain there sales at a level of 28 million square yards. New Price =?
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