How much do monopolies charge, and how much do they produce? drag the correct words or phrases into the blanks to complete the following paragraph. drag word(s) below to fill in the blank(s) in the passage a monopolist follows the same cost equals marginal revenue. as prices go same time, this however, up to a certain point the increased sales volume decrease. rule as a firm in a competitive market: produce until marginal the monopolist gains more customers. at the the revenue from each individual customer, including the existing ones. the revenue loss from the price offsets cost-minimizing down profit-maximizing* increases lowersup raises

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.)