Monopolies often charge prices that exceed their marginal cost, which allows them to earn profits. among monopolies though, the degree to which firms can mark up prices varies.
differences in what characteristic explains the extent to which monopolies can mark up prices?
o the firm's cost structure
o the firm's approach to marketing their product
o how strictly patents are enforced in the relevant country
o the price elasticity of demand for the firm's output

Suppose life expectancy in years (l) is a function of two inputs, health expenditures (h) and nutrition expenditures (n) in hundreds of dollars per year. the production function is upper l equals ch superscript 0.40 baseline upper n superscript 0.60l=ch0.40n0.60. beginning with c = 1, a health input of $400400 per year (hequals=44) and a nutrition input of $400400 per year (nequals=44), show that the marginal product of health expenditures and the marginal product of nutrition expenditures are both decreasing. the marginal product of health expenditures when h goes from 44 to 55 is nothing, and the marginal product of health when h goes from 66 to 77 is nothing. (round your answers to three decimal places.)