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Author Question: As new firms enter a monopolistic competitive industry, it can be expected that: a. market price ... (Read 81 times)

Melani1276

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on: Jun 30, 2018
As new firms enter a monopolistic competitive industry, it can be expected that:
 a. market price will increase.
  b. the output of existing firms will increase.
  c. profits of existing firms will increase.
  d. market demand should decrease.
  e. profits of existing firms will decrease.

Question 2

The opportunity costs associated with the use of resources owned by a firm are:
 a. externalities.
  b. implicit costs.
  c. explicit costs.
  d. sunk costs.


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scikid

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Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

b


Melani1276

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Reply #2 on: Jun 30, 2018
Correct answers!


scikid

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Reply #3 on: Jun 30, 2018
Great! Please up vote :D


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