Imperfectly competitive firms have a demand curve that ________ ...

[NClaborn]

Imperfectly competitive firms have a demand curve that ________ and a marginal revenue curve that ________ and is ________ the demand curve.
 
  A) slopes downward; slopes downward; below
  B) is horizontal; is horizontal; the same as
  C) slopes downward; is horizontal; above
  D) is horizontal; slopes downward; below
  E) slopes downward; slopes downward; the same as

Question 2

In the HO model, the production possibility frontier is bowed out due to the assumption of
 
  A) identical tastes.
  B) different factor intensities in the production of the two goods.
  C) increasing returns to scale.
  D) Two of the above.

[ricroger]

Answer to Question 1

A

Answer to Question 2

B

[NClaborn]

TYSM

[kthug]

Excellent