This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The figure above shows Bill's Hotdogs, a monopolistically competitive firm. If other firms enter the ... (Read 170 times)

roselinechinyere27m

  • Hero Member
  • *****
  • Posts: 557
on: Jun 29, 2018
The figure above shows Bill's Hotdogs, a monopolistically competitive firm. If other firms enter the market and have hot dogs that are very close substitutes for Bill's Hotdogs, then the demand curve for Bill's Hotdogs will ________.
 
  A) shift leftward and become more elastic
  B) shift rightward and become more elastic
  C) shift rightward and be parallel to the original demand curve
  D) shift leftward and be parallel to the original demand curve

Question 2

Sandra's Sweaters' production function is shown in the above table. Sandra rents three knitting machines for 30 a day each and hires workers at a wage rate of 40 a day.
 
  If the rental rate of capital rises to 50 per machine a day, Sandra's ________ curve shifts upward. A) average variable cost
  B) total variable cost
  C) average fixed cost
  D) marginal cost


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kishoreddi

  • Sr. Member
  • ****
  • Posts: 329
    • Your online Help in Biology and chemistry
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


roselinechinyere27m

  • Hero Member
  • *****
  • Posts: 557
Reply #2 on: Jun 29, 2018
Thank you :)


kishoreddi

  • Sr. Member
  • ****
  • Posts: 329
    • Your online Help in Biology and chemistry
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Methods to Document Peripheral Pulses A. Stick Figure Peripheral Pulse Documentation B. Tabular Peri Methods to Document Peripheral Pulses A. Stick Figure Peripheral Pulse Documentation B. Tabular Peri
The salivary glands, parotid, sublingual, and submandibular. This image shows the position of each g The salivary glands, parotid, sublingual, and submandibular. This image shows the position of each g
Cervical cancer (a) Top view of the uterus showing the presence of a tumor in the wall of the cervix Cervical cancer (a) Top view of the uterus showing the presence of a tumor in the wall of the cervix
competitive inhibition competitive inhibition
A peroxidation reaction involving a fatty acid is depicted in the figure below. A peroxidation reaction involving a fatty acid is depicted in the figure below.
Mobilize each metatarsal–phalangeal joint with figure-8s. Hold the tarsal just below the ... Mobilize each metatarsal–phalangeal joint with figure-8s. Hold the tarsal just below the ...
Video: Decubitus Ulcer

For a complete list of videos, visit our video library