Author Question: Starting from a pure exchange equilibrium, an increase in the demand for a commodity will result in: ... (Read 228 times)

09madisonrousseau09

  • Hero Member
  • *****
  • Posts: 559
Starting from a pure exchange equilibrium, an increase in the demand for a commodity will result in:
 a. a fall in the market price.
  b. a rise in the market price.
  c. a rise in the equilibrium output.
  d. a fall in the equilibrium output.

Question 2

Identify the characteristics of a monopoly firm.
 a. The existence of barriers to entry and production of a homogeneous product
  b. The production of a unique product and a large number of sellers in the market
  c. The production of a standardized product and the firm is a price taker
  d. The existence of barriers to entry and the firm is a price taker
  e. The existence of barriers to entry and the firm is a price maker



bdobbins

  • Sr. Member
  • ****
  • Posts: 326
Answer to Question 1

B

Answer to Question 2

e



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

For a complete list of videos, visit our video library