Principles of Economics I
May 26, 2015
A monopolist maximizes profit by producing the quantity at which MR = MC, just like a
Monopolists maximize profit in the elastic portion of the demand line.
November 5, 2015
1. For a price ceiling to be binding it should be set above the equilibrium price.
2. As one moves down a straight line demand curve away from the vertical axis, the demand
becomes less elastic and eventually inel
December 17, 2015
Please answer the following TRUE/FALSE questions with an explanation to your answer.
Without the explanation you get no partial credit.
1. You can prevent tragedy of commons problem by giving a subsidy to the