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

Author Question: Monopolistic competition differs from monopoly because in monopolistic competition A) firms ... (Read 169 times)

schs14

  • Hero Member
  • *****
  • Posts: 569
on: Jun 29, 2018
Monopolistic competition differs from monopoly because in monopolistic competition
 
  A) firms maximize profits.
  B) firms set marginal revenue equal to marginal cost to maximize profit.
  C) firms are free to enter and exit.
  D) All of the above are differences between monopoly and monopolistically competitive firms.

Question 2

When you chose to buy the second cup of coffee instead of the third bagel, which of the following is necessarily CORRECT?
 
  A) The second coffee will give you higher marginal utility.
  B) The second coffee is cheaper than the third bagel.
  C) The marginal utility per dollar from the third bagel is less than the marginal utility per dollar from the second coffee.
  D) Both answers A and C are correct.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

macagnavarro

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

C


schs14

  • Member
  • Posts: 569
Reply 2 on: Jun 29, 2018
:D TYSM

diana chang

  • Member
  • Posts: 288
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

Connell's experimental manipulation of species indicated the presence of competition. Connell's experimental manipulation of species indicated the presence of competition.
Influence of abiotic factors on competition between T. castaneum and T. confusum. Influence of abiotic factors on competition between T. castaneum and T. confusum.
Competition in a forest can be as intense as competition on a coral reef. However, much of the compe Competition in a forest can be as intense as competition on a coral reef. However, much of the compe
Welcome sign for Kenton, Tennessee, an example of competition for "White Squirrel Capital" Welcome sign for Kenton, Tennessee, an example of competition for "White Squirrel Capital"
Firms Incorporated into U.S. Steel Firms Incorporated into U.S. Steel
Interference Competition Interference Competition
Video: Ultrasound of a Fetus (Sonogram)

For a complete list of videos, visit our video library