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

Recognize the factors influencing the success and dynamics of social movements, including the role of resources, technology, and organizational structures.

Analyze the impact of social movements on policy and social change.

Identify stages in the process of social change and the influence of technology and media.

Understand the sociological perspectives on rumors, urban legends, and collective behavior.

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Definitions:

Marketable Securities

Liquid financial instruments that can easily be converted into cash, often used for short-term investments.

Cash Balances

Available cash on hand or in bank accounts that a company uses for daily operations.

Investments in Inventory

Funds allocated by a business to purchase goods and materials held for resale or production.

Minimum Costs

The lowest amount that can be spent on the production of a good or service while maintaining its quality.