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Author Question: A monopolistically competitive firm is like a monopoly firm insofar as A) both face perfectly ... (Read 59 times)

stock

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  • Posts: 573
on: Jun 29, 2018
A monopolistically competitive firm is like a monopoly firm insofar as
 
  A) both face perfectly elastic demand.
  B) both earn an economic profit in the long run.
  C) both have MR curves that lie below their demand curves.
  D) neither is protected by high barriers to entry.

Question 2

A cartel is a group of firms which agree to
 
  A) behave competitively.
  B) raise the price of their product.
  C) lower the price of their product.
  D) increase the amount they produce.


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scottmt

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

C

Answer to Question 2

B


stock

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

vickybb89

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Reply 3 on: Yesterday
:D TYSM

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