Why, in the case of a monopolist, is the marginal revenue at any output less than the output price? Why is profit maximization given by marginal cost equals marginal revenue in a monopolistic market? a. Why, in
Under uncertainty, a risk-neutral monopolistic firm produces more than in a deterministic environment and it refuses to sell its total output when demand is low, because the marginal revenue could become negative or lower than the cost of selling the product. Moreover, in this framework, prices...
Marginal revenue is equal to the selling price Economic profits will not be earned for any significant period of time The firm is best described as existing in a(n): A. purely competitive market. B. price searcher market. C. monopolistic market structure. 相关知识点: 试题...
To maximize profit, a monopolist will produce until marginal revenue from the last unit produced is equal to the marginal cost of producing the last unit.Answer and Explanation: The marginal cost is $3. To maximize profit, then monopolist wil...
What is a monopoly? A monopoly occurs when a single company or entity dominates a particular market, holding most, if not all, of the market share. In this case, competition is virtually nonexistent, which allows the monopolistic entity to control prices, quality, and the availability of the...
Two important considerations of any firm are its level of profitability and whether to continue to operate in the current environment. Theopportunity cost (economic cost )of any particular decision, such as to produce a given level of output, can be determined by measuring the benefit forgone by...
97、边际替代率(Marginal rate of substitution) 边际替代率是指如果消费者在收到额外一单位商品 X 之后要保持满足水平不变而必须放弃 的商品 Y 的数量。 98、边际收益(Marginal revenue) 边际收益是指出售额外一单位产品所带来的总收益的增加。 99、边际收益产品(Marginal revenue product) ...
36、可贷资金的需求曲线(Demand curve of loanable funds) 可贷资金的需求曲线表示可贷资金的需求量与利率二者之间的关系。 37、贴现率( Discount rate) 当利率用于计算投资的净现值时,它被称为贴现率。 38、可分散风险(Diversifiable risk) 可以通过多样化来避免的风险是可分散风险。 39、主导厂商( Dominant firm...
a. What is meant by marginal revenue product? b. Why is the MRP curve of the factor is the firm's demand curve of the factor? On a monopolistic competition graph, why are the demand and marginal revenue curves sloping downward?
A firm has marginal revenue less than price. Does this describe a monopoly firm, a monopolistically competitive firm, both, or neither? Explain. Explain how a monopolist chooses the quantity of output to produce and the price to charge. ...