Suppose P = 20 − 2Q Is the Market Demand

question 69

Multiple Choice

Suppose P = 20 − 2Q is the market demand function for a local monopoly.The marginal cost is 2Q.The local monopoly tries to maximize its profits by equating MC = MR and charging a uniform price.What will be the equilibrium price and output?

• A) $6.33, 3.33 units
• B) $6.33, 5 units
• C) $13.33, 3.33 units
• D) $10, 5 units

Understand theories explaining substance use and dependency, including cognitive and sociocultural theories.

Recognize pharmacological treatments used in substance dependency and their mechanisms of action.

Describe the genetic and family risk factors for substance-related disorders.

Identify gender differences in substance use, abuse, and dependency.

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Definitions:

Fixed Cost

A cost that does not change with an increase or decrease in the amount of goods or services produced or sold.

Manufacturing Overhead

All factory-related costs that are incurred during the manufacturing process, excluding direct materials and direct labor.