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Use the following to answer questions: Use the following to answer questions:   -(Table: Demand for Economics Tutoring) Look at the table Demand for Economics Tutoring. Suppose Eric is the only economics tutor in town and therefore holds a monopoly. Eric can offer additional hours of tutoring at a constant marginal cost of $2 per hour, and he has no fixed costs. A) If Eric acts as a monopolist, how many hours will he offer and what price will he charge? B) Calculate Eric's monopoly profit.
-(Table: Demand for Economics Tutoring) Look at the table Demand for Economics Tutoring. Suppose Eric is the only economics tutor in town and therefore holds a monopoly. Eric can offer additional hours of tutoring at a constant marginal cost of $2 per hour, and he has no fixed costs.
A) If Eric acts as a monopolist, how many hours will he offer and what price will he charge?
B) Calculate Eric's monopoly profit.


Definitions:

Body Language

Non-verbal communication through physical behaviors, such as gestures, facial expressions, and posture.

Face And Eyes

Refers to the front part of a person's head, including the area around the eyes.

Using Gestures

The act of expressing oneself or emphasizing speech with physical movements of the body or limbs.

Nonverbal Communication

The transmission of information or feelings without the use of spoken words, using gestures, facial expressions, and body language instead.

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