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Author Question: In the figure above, suppose that Mac and Izzie trade and reach point c. Then A) Mac produces ... (Read 188 times)

Beheh

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on: Jun 29, 2018
In the figure above, suppose that Mac and Izzie trade and reach point c. Then
 
  A) Mac produces outside his production possibilities frontier.
  B) Izzie produces outside her production possibilities frontier.
  C) Mac and Izzie both produce outside their production possibilities frontiers.
  D) neither Mac nor Izzie produce outside their production possibilities frontiers.

Question 2

A contestable market is one in which there are
 
  A) one or a few firms, and entry into the market is costly.
  B) one or a few firms, and entry into the market is not costly.
  C) many firms, and entry into the market is costly.
  D) many firms, and entry into the market is not costly.


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lkanara2

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

D

Answer to Question 2

B


Beheh

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

amandanbreshears

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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