A Monopolist Has a Constant Marginal Cost of $2 Per

question 7

Multiple Choice

A monopolist has a constant marginal cost of $2 per unit and no fixed costs. He faces separate markets in the United States and England. He can set one price p₁ for the U.S. market and another price p₂ for the English market. If demand in the United States is given by Q₁ = 7,000 - 700p₁ and demand in England is given by Q₂ = 3,200 - 400p₂, then the price in the United States will

• A) be smaller than the price in England by $1.
• B) be larger than the price in England by $3.
• C) equal the price in England.
• D) be larger than the price in England by $1.
• E) be smaller than the price in England by $3.

Recognize the importance of rank-and-file participation in union activities.

Understand the principles and models of union representation, including the servicing and organizing models.

Comprehend the structure and governance of labor unions, including bylaws, procedures, and dimensions of democracy.

Identify the strategies and perspectives surrounding union avoidance by management.

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Definitions:

Net Income

The total earnings of a company after deducting all expenses, taxes, and costs from its total revenue.

Annual Distribution

The process or action of dividing and dispersing something, such as earnings or products, to designated recipients once per year.

Partnership Profits

The net earnings distributed among partners in a business partnership according to the agreed-upon terms.

Total Distribution

The total amount of income distributed to investors, including dividends and other payouts, from an investment over a specific period.