At a certain level of production, the marginal revenue and marginal cost of a monopolist are $8 and $6, respectively. Which of the following statements is true in this context?A) The monopolist should expand production. B) The monopolist should contract production.C) The profits of the monopolist are maximized. D) The profits of the monopolist are minimized.

Question

05-12-2022
Business

Answered

Discover the answers to your questions at Westonci.ca, where experts share their knowledge and insights with you. Discover solutions to your questions from experienced professionals across multiple fields on our comprehensive Q&A platform. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.

At a certain level of production, the marginal revenue and marginal cost of a monopolist are $8 and $6, respectively. Which of the following statements is true in this context?A) The monopolist should expand production. B) The monopolist should contract production.C) The profits of the monopolist are maximized. D) The profits of the monopolist are minimized.

Sagot :

We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.

What colony was purchased for the purpose of providing an outlet to the sea? Delaware New Jersey Pennsylvania

Please help! Hannah practices her guitar for 40 minutes on Monday. On Tuesday she practices for 5/8 of the time she practiced on Monday . On Wednesday she pract

Can someone explain the Eisenhower Doctrine?

Mark each statement if it describes an element of Islamic culture. A. Caliphs were Muslim rulers who succeeded Muhammad. B. Caliphs were prophets of equal statu

In what way did imperialism hurt rather than help European nations?

A recycle machine crushes 175 pounds of cans in 5 minutes. How many pounds of cans will the machine crush in 16 minutes? A) 560 B) 955 C) 1,925 D) 2,805

Which is true about Thomas Paine, Patrick Henry, and Sam Adams? A. They were all presidents of the United States. B. They were all patriots who helped spark the

What was the greatest community impact of the Oklahoma City bombing? Individuals experienced significant emotional pain years after the event. Employees had to

Which statements correctly describe shantytowns? A. were built by people who lost their money and homes B. were made from old boxes and boards C. were primarily

rekharaypriti8910 rekharaypriti8910 · Answer 1 · 2022-12-08T01:21:18-05:00

The answer is A. At a certain level of production, the marginal revenue and marginal cost of a monopolist are $8 and $6, respectively. The monopolist should expand production.

Let's assume the initial cost of certain level of production be $10.

At a cost of $10, the marginal revenue of a monopolist is $6. in the event that the marginal cost of production is $8, the monopolist ought to keep the cost at same level to boost benefits.

For expanding the benefits the monopolist should increase the marginal revenue to $8 so the mr =mc.

Each firm observes the guideline of profit maximization. In this rule marginal cost is equal to the marginal revenue and the MR intersects the MC curve the profit will be the maximum at this level.

The marginal cost of production and marginal revenue are the financial measures which are utilized to decide how much result and the cost per unit of an item that will expand benefits.

Know more about Marginal Revenue - https://brainly.com/question/28275578

#SPJ4

Sagot :

Other Questions