A student argues: If a monopolist finds a way of producing a good at lower cost, he
Question:
A student argues: "If a monopolist finds a way of producing a good at lower cost, he will not lower his price. Because he is a monopolist, he will keep the price and the quantity the same and just increase his profit." Do you agree? Use a graph to illustrate your answer.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
The students argument is incorrect As the ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Micro Economics questions
-
a. Consider a typical monopoly firm like that in Figure 13.3. If a monopolist finds a way to cut marginal costs, what will happen: Will it pass along some of the savings to the consumer in the form...
-
A student argues: "Economic surplus is greatest at the level of output where the difference between marginal benefit and marginal cost is largest." Do you agree? Briefly explain.
-
A student argues: "To maximize profit, a firm should produce the quantity where the difference between marginal revenue and marginal cost is the greatest. If a firm produces more than this quantity,...
-
Compare the ACA passed in 2010 with the Massachusetts health plan adopted in 2006 (use the Internet to obtain more details than we have provided in this chapter). Be sure to note the similarities and...
-
A hot-air dryer is used to reduce the moisture content of 1500 kg/mm of wet wood pulp from 0.75 kg H2Ofkg dry pulp to 0.15 wt% H2O. Air is drawn from the atmosphere at 28C, 760 mm Hg, and 50%...
-
Managed care has contributed to significant changes in the way that healthcare is delivered. To what extent has managed care changed the role of the physician in the delivery of care? How do you...
-
When two bodies are in thermal equilibrium (a) They have the same pressure (b) They have the same temperature (c) They are in a quasi-static state of equilibrium (d) They have the same chemical...
-
Daisey Company is a very profitable small business. It has not, however, given much consideration to internal control. For example, in an attempt to keep clerical and office expenses to a minimum,...
-
Joe aged 24, and Kate, aged 24, met in college. While studying, Joe worked part-time selling car parts to autobody shops in the GTA. He earned $12,000 a year, for two years. After graduating from...
-
You plan to invest in a hedge fund that has total capital of $500 million invested in five stocks: The risk-free rate is 6%, and you believe that the following probability distribution for future...
-
Does a monopolist have a supply curve? Briefly explain.
-
When homebuilders construct a new housing development, they usually sell to a single cable television company the rights to lay cable. As a result, anyone buying a home in that development is not...
-
Give an example of an application in which data in a file should be accessed in the following order: a. Sequentially b. Randomly
-
Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below:...
-
Electric potential is measured at points A = ( - 2 , - 3 ) cm and B = ( 5 , - 4 ) cm . The measurements are VA = 9 V and VB = 3 6 V , respectively. The electric field points exclusively along the x -...
-
Molly Ellen, bookkeeper for Keystone Company, forgot to send in the payroll taxes due on April 15. She sent the payment November 8. The IRS sent her a penalty charge of 9.60% simple interest on the...
-
A roller coaster car (RC) of mass m = 1200 kg (includes passengers) is to be thrust into motion from a height H with a speed of vo = 2 m/s. It is to come down the track and complete a full circle...
-
An interesting aspect is that many of those who argue for American jobs in manufacturing are the same consumers purchasing these goods. The cost of living in China and India is less than the cost of...
-
Should the government act to stabilize output in the real business cycle model?
-
Identify Thank You mission, strategy and core competencies. Identify strategy changes that have taken place at Thank You since its founding in 2008. Your answer must in text references and must be...
-
If interest is computed at 4%, which construction plan is preferred? A weekly business magazine offers a 1-yearsubscripticor $58 and a 3-year subscription for $116. If you thought you would read the...
-
Use an 8-year analysis period and a 10% interest rate to determine which alternative should be selected: A B First cost $5300 $10,700 Uniform annual benefit $1800 $2,100 Useful life, in years 4 8 Two...
-
Telephone Mexico is expanding its facilities to serve a new manufacturing plant. The new plant will require 2000 telephone lines this year and another 2000 lines after expansion in 10 years. The...
-
An airline will purchase 2 million gallons of jet fuel in one month and hedges using heating oil futures. From historical data, the standard deviation of heating oil futures contract is sF =0.031...
-
A European call option for a share costs $5.00. The exercise price of the call option is $100.00. An investor buys one call and holds it until maturity: a. Under what circumstances will the holder of...
-
You have been asked to estimate the cost of capital for the UTX corporation. The company has 7 million shares and 150,000 bonds outstanding at par value $10,000. In addition, it has $300 million in...
Study smarter with the SolutionInn App