Microsoft is the only business that sells Computer Operation System in the world. Assuming that Microsoft is maximizing its profit, which of the following statements is true? Select one: a. Microsoft prices will be less than marginal cost b. Microsoft prices will be higher than marginal cost c. Microsoft prices will equal marginal cost. d. Microsoft prices will be a function of supply and demand and will therefore oscillate around marginal costs.
Microsoft is the only business that sells Computer Operation System in the world. Assuming that Microsoft is maximizing its profit, which of the following statements is true? Select one: a. Microsoft prices will be less than marginal cost b. Microsoft prices will be higher than marginal cost c. Microsoft prices will equal marginal cost. d. Microsoft prices will be a function of supply and demand and will therefore oscillate around marginal costs.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Microsoft is the only business that sells Computer Operation System in the world. Assuming that Microsoft is maximizing its profit, which of the following statements is true?
Select one:
a. Microsoft prices will be less than marginal cost
b. Microsoft prices will be higher than marginal cost
c. Microsoft prices will equal marginal cost.
d. Microsoft prices will be a function of supply and demand and will therefore oscillate around marginal costs.
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