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Author Question: The cost of producing a tube of tooth paste is 0.05. If the market for tooth paste is ... (Read 220 times)

Jkov05

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on: Jun 29, 2018
The cost of producing a tube of tooth paste is 0.05. If the market for tooth paste is monopolistically competitive, a manufacturer who charges 0.05 for each bottle will ________.
 
  A) shut down production in the short run
  B) exit the industry in the long run
  C) incur a loss in the short run
  D) earn zero economic profits in the short run

Question 2

Refer to the scenario above. In equilibrium, Neil will give ________ to Claire if no other factors such as fairness are at work.
 
  A) 5 cookies
  B) 1 cookie
  C) 4 cookies
  D) 2 cookies


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okolip

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

D

Answer to Question 2

B


Jkov05

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

nothere

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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