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Author Question: Monopolistically competitive firms face a perfectly elastic demand curve. Indicate whether the ... (Read 54 times)

sarasara

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on: Jun 29, 2018
Monopolistically competitive firms face a perfectly elastic demand curve.
 
  Indicate whether the statement is true or false

Question 2

Refer to Table 10-5, which lists the values of Harry Taber's marginal utility and marginal utility per dollar for Italian submarine (sub) sandwiches and tacos. Assume that the price of a sub sandwich is 4 and the price of a taco is 2.
 
  When Harry's income is 14, he buys two Italian sub sandwiches and three tacos. The last column lists the values of the marginal utility per dollar for tacos when the price of a taco decreases to 1. Complete this statement: As a result of the change in price
  A) Harry's purchasing power has increased. He will reduce his consumption of tacos so he can buy one more sub. This is an example of the substitution effect of a price change.
  B) Harry's purchasing power has increased. Harry buys fewer tacos. This is an example of the substitution effect of a price change
  C) Harry's purchasing power has increased. If tacos are a normal good for Harry he will buy fewer tacos. This is an example of the income effect of a price change.
  D) Harry's purchasing power has increased. If tacos are a normal good for Harry he will buy more tacos. This is an example of the income effect of a price change.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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skipfourms123

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Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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sarasara

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Reply 2 on: Jun 29, 2018
Gracias!

dyrone

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Reply 3 on: Yesterday
:D TYSM

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