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

Author Question: In the short run, a firm in a monopolistic competition will produce the amount of output where its ... (Read 167 times)

Mr3Hunna

  • Hero Member
  • *****
  • Posts: 536
on: Jun 29, 2018
In the short run, a firm in a monopolistic competition will produce the amount of output where its
 
  A) marginal revenue equals marginal cost and will set its price according to the demand for that amount of output.
  B) marginal revenue equals marginal cost and takes the market price as given.
  C) average revenue equals average cost and will set its price according to the demand for that amount of output.
  D) average revenue equals its average cost and takes the market price as given.

Question 2

Free riding is not a problem in the market for a private good because
 
  A) people who do not pay for the good can be excluded from consumption.
  B) the good is a rival good.
  C) the market eliminates the problem of externalities.
  D) The question errs because free riding is a problem in providing private goods.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

swimkari

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


Mr3Hunna

  • Hero Member
  • *****
  • Posts: 536
Reply #2 on: Jun 29, 2018
Thank you


swimkari

  • Sr. Member
  • ****
  • Posts: 332
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Step 2 of gene cloning: The actions of a restriction enzyme and DNA ligase to produce a recombinant Step 2 of gene cloning: The actions of a restriction enzyme and DNA ligase to produce a recombinant
Connell's experimental manipulation of species indicated the presence of competition. Connell's experimental manipulation of species indicated the presence of competition.
Cardiac Output Cardiac Output
Levels of Processing Affects Long-Term but not Short-Term Memory Levels of Processing Affects Long-Term but not Short-Term Memory
A pedigree for an X-linked dominant trait. Affected males produce all affected daughters and no affe A pedigree for an X-linked dominant trait. Affected males produce all affected daughters and no affe
computer short cuts computer short cuts
Video: Introduction to Human Immunodeficiency Virus (HIV)

For a complete list of videos, visit our video library