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Author Question: Selling costs, such as advertising, are likely to be a large share of total cost in an industry that ... (Read 85 times)

justinmsk

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on: Jun 29, 2018
Selling costs, such as advertising, are likely to be a large share of total cost in an industry that is
 
  A) perfectly competitive.
  B) monopolistically competitive.
  C) a monopoly.
  D) non-profit.

Question 2

What are the two conditions that are met if a consumer is maximizing utility?
 
  What will be an ideal response?


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juicepod

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

There are two conditions: (1 ) The consumer spends all his or her income. (2 ) The consumer equalizes the marginal utility per dollar from all goods.


justinmsk

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

kthug

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Reply 3 on: Yesterday
:D TYSM

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