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Author Question: In monopolistic competition, a firm must determine what price to set for its good because A) the ... (Read 40 times)

folubunmi

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on: Jun 29, 2018
In monopolistic competition, a firm must determine what price to set for its good because
 
  A) the demand for its good is not perfectly elastic.
  B) the demand for its good is perfectly elastic.
  C) there are many buyers.
  D) there are many sellers.

Question 2

Given the data in the above table, income of 13, a price of 1 for a bottle of water and 2.00 for a hamburger, what is the marginal utility per dollar spent on the fifth hamburger?
 
  A) 10 units of utility
  B) 8 units of utility
  C) 6 units of utility
  D) 4 units of utility


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ynlevi

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

A

Answer to Question 2

D


folubunmi

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Reply 2 on: Jun 29, 2018
Excellent

bdobbins

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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