Monopolist faces a linear demand curve

Assignment Help Microeconomics
Reference no: EM131009515

Please answer the following questions one by one with detailed explanations.
1.If a profit maximizing monopolist faces a linear demand curve and has zero marginal cost, it will produce at:
A. lowest point of marginal revenue curve
B. elasticity of demand equals 1
C. lowest point of marginal profit curve
D. all of the choices are correct

2.If a profit maximizing monopolist faces a linear demand curve and has zero marginal cost, it will produce where demand elasticity is __________________ if it will produce at all. 
A. Inelastic
B. Elastic
C. 1
D. Information is inadequate to answer the question

3.If the demand curve for a single price monopolist always is a downward sloping straight line, then marginal revenue 
A. Will be a straight line with a negative slope of twice the demand curve slope
B. Will be a straight line with a negative slope of one-half the demand curve slope
C. Will be identical to the demand curve
D. Will be a horizontal line 

Reference no: EM131009515

Questions Cloud

What is the rate of interest on loan : A house financing company offers you a 12-year mortgage requiring end-of-year payments of Rs 28,593. The company also wants you to pay Rs 5,000 as the loan-processing fee, which they will deduct from the amount of loan given to you. What is the r..
Government have one billion to spend either on health servic : Government have one billion to spend either on health service or building a new road. it decide on health services, what is the opportunity cost
Find temperature of coffee exactly twenty two minutes after : After 6 minutes, the temperature of the coffee had dropped to 162 degrees. Find the temperature of the coffee exactly 22 minutes after it is placed on the table.
What are the core qualities of an inclusive leader : What are the core qualities of an inclusive leader? How would you model this in your organization? What challenges do organizational leaders face today in managing diversity? Be specific by giving examples in your organization if possible
Monopolist faces a linear demand curve : Please answer the following questions one by one with detailed explanations.1.If a profit maximizing monopolist faces a linear demand curve and has zero marginal cost, it will produce at:A. lowest point of marginal revenue curve
Accounting for accounting changes and errors : Accounting for Accounting Changes and Errors Listed below are various types of accounting changes and errors.
What statistical test would appropriate for analyzing data : If lorazepam interferes with the storage of material in memory, then recall only of the second list should be affected. If lorazepam interferes with retrieval rather than storage, then recall of both lists should be disrupted. What statistical tes..
Error analysis and correcting entry : You have been engaged to review the financial statements of Gottschalk Corporation. In the course of your examination you conclude that the bookkeeper hired during the current year is not doing a good job. You notice a number of irregularities as ..
Building renovation partnership : Joe proposes that he direct the IRA to sell the securities and to use the proceeds to invest in the building renovation partnership.

Reviews

Write a Review

Microeconomics Questions & Answers

  What is an externality

What is an externality? Provide at least three examples. How does one of the examples you provided affect the market outcome? What is the role of government in addressing the implications of an externality you provided as an example?

  How can the fiscal cliff be avoided

What is the “Fiscal Cliff”? What effect will the “Fiscal Cliff” have on the economy in the short run? Explain and illustrateusing the Aggregate Supply –Aggregate Demand model. How can the “Fiscal Cliff” be avoided?

  Describe a small open economy

The following describe a small open economy : C= 60+0.8(Y-T) I=150-40r NX=200-60e G=200 T=150 M=3500 P=4 R*=5 Calculate the equilibrium exchange rate , level of income and net export

  The federal government and the federal reserve bank

The Federal Government and the Federal Reserve Bank both use their respective policy tools to make "corrections" to the economy. As we learned, both entities are able to stimulate a sluggish economy, as well as "cool down" one that may be growi..

  Aggregate demand for goods and services

The Aggregate Demand for goods and services in an economy must at every moment equal the value of Real Gross Domestic Product because both are defined to be the sum of (C+I+G+X-IM).

  The government of a small south pacific island is

the government of a small south pacific island is considering whether to allow development of a small but valuable

  Discuss the non-economic functions of education

Discuss the non-economic functions of education. Give an overview of human capital theory. Explain the role of productivity in this theory.

  Reflect on the arguments presented

Identify what you determined is the more persuasive argument - Reflect on the arguments presented and reveal your consensus.

  Impact on aggregate supply and aggregate demand

Economic Factors and the Impact on Aggregate Supply and Aggregate Demand

  Treating the marginal cost curve as the supply curve

Treating the marginal cost curve as the “supply curve” and using the given demand curve,what price and quantity would a competitive market give?

  What is the revenue maximizing price

An apple grower charges $22 for a 40-pound crate of apple. If customers buy more than 5 crates, he reduces the price by $2 per additional crate. What number of crate per customer maximizes the grower's revenue per customer? What is the revenue max..

  How did this affect the prices of related inputs

Describe an example you are familiar with in which a technological innovation led to an improvement in productivity. What was the effect on the cost of doing business or activity in which this technology was employed?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd