Multiple Choice
Suppose Kate's Great Crete (KGC) has annual variable costs of VC = 30Q + 0.0025Q2 and marginal costs of MC = 30 + 0.005Q,where Q is the number of cubic yards of concrete it produces per year.In addition,it has an avoidable fixed cost of $50,000 per year.KGC's demand function is Qd = 20,000 - 400P.What is the profit maximizing sales quantity?
A) 20
B) 2,000
C) 8,000
D) 0
Correct Answer:

Verified
Correct Answer:
Verified
Q1: Suppose a monopoly firm has an annual
Q2: The Solo Coal Mine is the only
Q3: A monopoly market is:<br>A) a market with
Q5: The Solo Coal Mine is the only
Q6: An oligopoly market is:<br>A) a market with
Q7: Suppose a firm has a variable cost
Q8: The Solo Coal Mine is the only
Q9: A monopolist's profit maximizing price depends upon:<br>A)
Q10: A market is a natural monopoly when:<br>A)
Q11: A firm's Lerner Index:<br>A) is the amount