« previous next »

Author Question: Orange juice drinkers want to consume more orange juice at a lower price. Which of the following ... (Read 56 times)

anjilletteb

  • Hero Member
  • *****
  • Posts: 569
on: Jun 29, 2018
Orange juice drinkers want to consume more orange juice at a lower price. Which of the following events would have this effect?
 
  A) a decrease in the population
  B) a decrease in the price of orange juice processing
  C) an increase in the cost of fertilizer used for orange groves
  D) a decrease in income, assuming orange juice is a normal good

Question 2

How do firms in monopolistic competition compete?
 
  What will be an ideal response?
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


IAPPLET

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

Firms in monopolistic competition compete in three areas: Qualitythe physical attributes of a product, including the product's design and reliability, the service provided with the product, and the ease of access to the product; pricebecause the firms produce differentiated products, each firm faces a downward-sloping demand curve for its own product; and marketingfirms must make consumers aware of the quality of their differentiated products through advertising and packaging.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

Lower extremity blood pressure cuff Lower extremity blood pressure cuff
Dermatological changes with myxedema can occur behind the eyes or in the lower leg, as shown here. Dermatological changes with myxedema can occur behind the eyes or in the lower leg, as shown here.
Apply oil or lotion to the entire leg and hip. Slide palms from lower leg to buttocks. Inside hand ... Apply oil or lotion to the entire leg and hip. Slide palms from lower leg to buttocks. Inside hand ...
Broadening effleurage to lower leg. Place heels of the hands together over tibia (no pressure over ... Broadening effleurage to lower leg. Place heels of the hands together over tibia (no pressure over ...
Knead lower leg muscles by bending the knee until the foot is flat on the supporting surface. Reach ... Knead lower leg muscles by bending the knee until the foot is flat on the supporting surface. Reach ...
Use tap water when making coffee, tea, or juice from concentrate, and for food preparation Use tap water when making coffee, tea, or juice from concentrate, and for food preparation
Video: Skin Cancer

For a complete list of videos, visit our video library