Author Question: Billy is running a fast-food burger stand in his small community. If he is like other monopolistic ... (Read 39 times)

serike

  • Hero Member
  • *****
  • Posts: 542
Billy is running a fast-food burger stand in his small community. If he is like other monopolistic competitors in short-run equilibrium which of the following would be true?
 a. His demand curve would be downward sloping.
 b. His marginal revenue curve would lie below his demand curve.
  c. He would be maximizing profits where his MC = MR.
 d. All of the above would be characteristics of Billy's burger stand.

Question 2

Suppose that the price of an ounce of gold is 120 pesos in Mexico and 2,400 yen in Japan. Then the Japanese yen is worth two hundred times the value of a Mexican peso.
 a. True
  b. False
  Indicate whether the statement is true or false



cat123

  • Sr. Member
  • ****
  • Posts: 310
Answer to Question 1

d

Answer to Question 2

False



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

For a complete list of videos, visit our video library