The Demand for a Monopoly's Output Is P = 200

question 84

Multiple Choice

The demand for a monopoly's output is p = 200 - Q.The monopoly's production function is Q = 2L,and the market wage is $4.How many units of labor will the monopolist employ at its profit maximization level of output?

• A) L = 49.5
• B) L = 4623
• C) L = 198
• D) L = 10

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Definitions:

Investing Activities

Transactions involving the purchase and sale of long-term assets and other investments, not including cash equivalents.

Common Stock

A type of equity ownership in a corporation, representing claims on a portion of its earnings and assets, with voting rights on corporate matters.

Investing Activities

Transactions involving the purchase and sale of long-term assets and other investments, not including inventory, reported in the cash flow statement.

Financing Activities

Transactions that result in changes in the size and composition of the equity capital or borrowings of the entity.