45. At the level of output where the marginal cost andmarginal revenue curves in
ID: 1240788 • Letter: 4
Question
45.
At the level of output where the marginal cost andmarginal revenue curves intersect, a monopolist's demand curvepasses above its average total cost curve. The firmwill:
A)shut down in the short-run.
B)increase its price.
C)stay in operation in the short-run, but shut down.
D)be able to make a pure economic profit.
87.
Exhibit 11-11 Labor wage and cost data
Labor
Wage
TWC
MFC
10
$
$ 50.00
$
11
5.80
12
17.80
13
102.70
14
126.00
15
46.50
In Exhibit 11-11, the wage required to hire 14 employees is equalto:
A)$8.80.
B)$9.50.
C)$9.00.
D)$5.50.
E)$8.10.
Labor
Wage
TWC
MFC
10
$
$ 50.00
$
11
5.80
12
17.80
13
102.70
14
126.00
15
46.50
Explanation / Answer
B since wages increase from labor of 14 to 15. And the only wagegreater than 9 is 9.50
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