For a profit-maximizing monopoly that charges the same price to all consumers, what is the relationship between price P, marginal revenue MR and marginal cost MC?

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Answer 1

Answer:

Answer:

The relationship between price, marginal revenue, and marginal cost for the scenario in the question = P > MR and MR = MC

This is because the marginal revenue of Monopoly firms is lesser than the price at all times.

Thus, a fall in price would mean that some revenue is forgone

For profit maximization, the marginal revenue is always equal to the marginal cost. Hence the reason for the expression above.

Explanation:

Related Questions

In the diagram above, what will happen if the government sets the minimum wage at Point B?a) There will be a shortage of workers. b) There will be a surplus of workers. c) The minimum wage will rise to meet equilibrium. d) The minimum wage will fall to meet equilibrium. Lowering the discount rate can promote full employment because a) employees are more likely to apply for multiple jobs b) employees are able to get better offers for hourly wages c) companies are more likely to expand and hire more workers d)companies are less likely to sign up employees for unemployment insurance How do member banks of the Federal Reserve differ from other depository institutions? a) They participate in the Federal Open Market Committee. b) They receive services from the regional Federal Reserve Bank. c) They are stockholders in their regional Federal Reserve Bank. d) They are subject to the banking regulations issued by the Federal Reserve. Which of the following circumstances usually comes before a period of economic contraction? a) Decreasing inflation b) High unemployment c) Low GDP d) Peak production Use this image to answer the following question. When the economy is operating at point C, the U.S. Congress is most likely to follow a) expansionary fiscal policy b) contractionary fiscal policy c) expansionary monetary policy During a cold winter, there is a natural-gas shortage. The government sets a price ceiling on natural gas so that people can continue to afford heating. If the price ceiling remains in effect, what will happen? a) Quantity demanded will exceed the quantity supplied. b) Quantity demanded will equal the quantity supplied. c) Quantity demanded and supplied will reach price equilibrium. d) Quantity demanded will be lower than the quantity supplied. e) Which of these could result from decreased federal spending? f) Advances in the space program g) Fewer social programs h) Increased national debt i) More government regulation
Money that your company has in the bank in case of unexpected financial needs or in case sales slow down is called
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Historically, most companies have used the ____ to successfully enter foreign markets. Answer phase model of globalization global new venture approach ripple approach market echo approach guerrilla approac
How is a line of credit similar to a credit card?a. Interest is charged only on the amount you actually borrow. b. The interest rates are the same. c. They both require co-signers. d. Lenders don't check your credit score.

Which of these taxes is paid by the consumer when a product is purchased?

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Bills with package. sales into market after consumer purchase the product

Which of the following would be considered a transaction account?a. checking account
b. savings account
c. mutual fund account
d. certificate of deposit

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The right answer for the question that is being asked and shown above is that: "c. mutual fund account" Among the following choices, that would be considered a transaction account is that of mutual fund account

gomez corporation uses the allowance method to account for uncollectibles. on january 31, it wrote off an $1,600 account of a customer, c. green. on march 9, it receives a $1,100 payment from green. prepare the journal entry for january 31. prepare the journal entries for march 9; assume no additional money is expected from green.

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The journal entries for Gomez Corporation for January 31 and March 9 are being prepared below. This would record the partial recovery of the previously written-off amount.

Journal Entries in the books of Gomez Corporation

(as on January 31)

For January 31, when Gomez Corporation writes off the $1,600 account of customer C. Green using the allowance method, the journal entry would be:

1. Debit Allowance for Doubtful Accounts: $1,600
2. Credit Accounts Receivable - C. Green: $1,600

Journal Entries in the books of Gomez Corporation

(as on March 9)

The journal entries for March 9, when Gomez Corporation receives a $1,100 payment from C. Green and no additional money is expected, are as follows:

1. Debit Cash: $1,100
2. Credit Allowance for Doubtful Accounts: $1,100

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What savings account generally pays the least amount of interest of all savings options?account

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Answer:

Regular savings accounts

Explanation:

Regular savings accounts are also called deposit savings accounts. They are the easiest way to save money in a bank or credit union and receive interest. These types of accounts require a small deposit to open, and the minimum balance is also low. One can avoid monthly charges by maintaining the minimum balance at all times.

The deposit/regular savings accounts are very liquid. Most banks will not have restrictions on the number of deposits and withdrawals per period, say a month. Due to this feature, these accounts earn the lowest interest compared to the other savings accounts. Deposit/ regular accounts are also referred to as transactional savings accounts.

The other types of savings accounts include Money market accounts and Certificates of deposit accounts.

Making a good first impression on potential employers is essential to securing employment. Please select the best answer from the choices provided T F

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The answer to your question is TRUE!

Final answer:

Making a positive first impression is vital in job seeking as it influences the potential employers' decision to consider the applicant for an interview. This is due to factors such as academic accomplishments, qualifications, and asymmetric information in labor markets. Therefore, presenting an impressive résumé and cultivating a noteworthy personal brand is essential.

Explanation:

Making a good first impression

on potential employers is indeed essential to securing employment. This is particularly evident in job fairs, where employers often pre-screen candidates and may devote only a few seconds to looking at each résumé. In this brief moment, they need to be convinced to continue reading and consider interviewing the candidate.

Factors that may influence their decision include the candidate's career goals, academic accolades, and qualifications.

Asymmetric information

exists in labor markets because employers cannot observe many key employee attributes until after the person is hired. Hence, they often seek schools for pre-screening and are likely to prefer candidates who have degrees. They also view awards and high GPAs as signals of hard work and ability.

Interestingly, a study by Gilmore and Ferris (1989) also confirmed the significant effect of

applicant impression management tactics

on interviewer judgments, further justifying the importance of first impressions. Therefore, to secure employment, one should work towards presenting an impressive résumé and developing a noteworthy personal brand.

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Ryan started a tutoring website. After a few months, a publishing company filed a lawsuit against his company for copyright infringement. Ryan had to shut down his business and lost all his personal assets in the process. What type of business is this?

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Answer:

The correct answer is: Sole Proprietorship.

Explanation:

A Sole Proprietorship is the type of business where there is a single owner who is the same individual in charge of the operations and is fully liable for debt and responsibilities derived from the business transactions. Sole proprietorships are not considered entities in the U.S. and because they have few regulations to cover they are easy to form and dismantle.

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