« previous next »

Author Question: In a contestable market with one firm in the market, the existing firm will A) set its price ... (Read 59 times)

crazycityslicker

  • Hero Member
  • *****
  • Posts: 537
on: Jun 29, 2018
In a contestable market with one firm in the market, the existing firm will
 
  A) set its price equal to the monopoly price.
  B) set its price lower than the monopoly price.
  C) set its price higher than the monopoly price.
  D) have a demand curve that is horizontal at the price that will attract new firms to enter the market.

Question 2

In the above table, the total cost of producing 9 units of output is
 
  A) 20.
  B) 30.
  C) 50.
  D) 70.


stillxalice

  • Sr. Member
  • ****
  • Posts: 339
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Norway lobsters on sale at a Spanish market Norway lobsters on sale at a Spanish market
John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ... Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ...
If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ... If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ...
Video: Olfaction. or the sense of smell

For a complete list of videos, visit our video library