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Author Question: Refer to the scenario above. If the number of bidders increases to 65, Molly's optimal bid for the ... (Read 71 times)

awywial

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on: Jun 29, 2018
Refer to the scenario above. If the number of bidders increases to 65, Molly's optimal bid for the product would be ________, and her consumer surplus would be ________.
 
  A) 836.92; 13.08
  B) 831.11; 18.89
  C) 765.5; 25
  D) 750; 28.5

Question 2

As the number of firms in an oligopolistic market increases, ________.
 
  A) prices tend to decline toward marginal cost
  B) prices tend to rise above marginal cost
  C) the market demand for the good tends to fall
  D) profits earned by firms tend to rise


TINA

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

A

Answer to Question 2

A


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