1. Supposed the firm has fixed cost production but no variable cost.The profit of firm is maximized when a. It produce at the level where it's a total revenue is maximized b. It produce at the level where it's Marginal revenue is equal to price c. It produce at the level where it can charge the highest price possible d. It produce at the level where it's average cost is equal to its marginal cost
1. Supposed the firm has fixed cost production but no variable cost.The profit of firm is maximized when
a. It produce at the level where it's a total revenue is maximized
b. It produce at the level where it's Marginal revenue is equal to
c. It produce at the level where it can charge the highest price possible
d. It produce at the level where it's average cost is equal to its marginal cost
2. The most common source of illegal
a. Predatory pricing
b. Intellectual property rights
c. Royal edict
d. Natural monopoly
3. In a monopolist ( profit maximizing) marginal revenue P> MC ( the price exceeds the marginal cost). The implies that
a. The
b. The total value of the good is maximized
c. The equilibrium is Marshall inefficient
d. The market price is equal to the market quantity
Step by step
Solved in 4 steps
