Question 4 A monopolist estimates that at the current price being charged for the product, marginal revenue is less than marginal cost, and price…

I am not sure wiz these MCQ’s answers cause I can’t find the answer on the website therefore I can’t check my answer. I have put my answer on the picture.

2.In Q4, why the answer is not C?

I am confused with Q10, Q12 and Q15. The answer for 10, 12 and 15 are C, A/C and A respectively.

For Q10, I think MR=MC and 5X( X is the number of quantity picked)=110, but there is no answer for this result.

For 12, I chose B and for 15 I had no idea.

  • Attachment 1
  • Attachment 2
  • Attachment 3
  • Attachment 4

Question 4A monopolist estimates that at the current price being charged for the product, marginal revenue is less than marginal cost, and price elasticity of demand is —1.4. To increase profitthe monopolist should: (a) Increase price and sell less (b) Increase price and sell more (c) Decrease price and sell less (d) Decrease price and sell more X Quali— 9The table below presents data on the productivity of fruit pickers working on a fruit farm The fruit farming industry can be assumed to be competitive.Number of workers Quantity of fruit picked per day (kg)1 205090l20I45I65180I90 eeqauAuu The market price of fruit is $5 per kilo. Fruit pickers here are not paid by results. They receive a fixed wage of S] 10 per dayThe Marginal Revenue Product from employing the 7“ worker is: (a) $15 (b) 15 kg (c) S75 (d) SI 00 Question to Consider the data for Question 9 To maximise profit the factory should employ:(a) 3 workers 0)) 4 workers (e) 5 workers (d) 6 workers If the supply curve of a factor of production facing a competitive firm is perfectlyinelastic, then from the firm’s point of view: (a) none of the factor’s earnings is necessary transfer payment (b) all of the factor’s earnings is producer surplus (c) none of the factor’s earnings is rent (d) all of the factor’s earnings is rent Question 15 Oligopolists are more likely to engage in successful collusion to maximise industryprofits when (a) the barriers to the entry of new firms into the industry are high(b) The degree of product differentiation between each firms’ product is high(c)’l’he number of member firms in the industry is high (d) total demand for the industry’s product is declining rather than growing

Show more







Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 10% with the coupon code: best10