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Author Question: Which of the following statements is true of market prices in a perfectly competitive market? A) ... (Read 77 times)

Bernana

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on: Jun 29, 2018
Which of the following statements is true of market prices in a perfectly competitive market?
 
  A) Market prices are determined by the government.
  B) Market prices allow for efficient allocation of scarce resources.
  C) Market prices are not stable and fluctuate widely.
  D) Market prices do not act as incentives for buyers.

Question 2

If the Palace Cinema can sell 200 tickets at 4 and 300 tickets at 3, our best estimate of the marginal revenue from sale of the 250th ticket is
 
  A) 4.
  B) 3.50.
  C) 3.
  D) 1.


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dmurph1496

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

B

Answer to Question 2

D


Bernana

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

Missbam101

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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