This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In the long run, both monopolistic competition and perfect competition result in: a. a wide variety ... (Read 73 times)

panfilo

  • Hero Member
  • *****
  • Posts: 572
on: Jun 30, 2018
In the long run, both monopolistic competition and perfect competition result in:
 a. a wide variety of brand-name choices for consumers.
  b. an efficient allocation of resources.
  c. zero economic profit for firms.
  d. excess capacity.

Question 2

Assume the price of good Y with its quantity measured on the vertical axis is 20 and the price of good X with its quantity measured on the horizontal axis is 5 . If the consumer's budget is 100, then the absolute value of the slope of the budget line is:
 a. 100.
  b. 20.
  c. 1/4.
  d. 4.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Zebsrer

  • Sr. Member
  • ****
  • Posts: 284
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

c


panfilo

  • Hero Member
  • *****
  • Posts: 572
Reply #2 on: Jun 30, 2018
Thank you


Zebsrer

  • Sr. Member
  • ****
  • Posts: 284
Reply #3 on: Jun 30, 2018
No problemo


« previous next »
 

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Connell's experimental manipulation of species indicated the presence of competition. Connell's experimental manipulation of species indicated the presence of competition.
Hip Typically occurs as a result of a fall; with osteoporosis, hip fractures can occur as a result o Hip Typically occurs as a result of a fall; with osteoporosis, hip fractures can occur as a result o
Sexual swellings are one way for females to advertise their mating availability, thereby inducing ma Sexual swellings are one way for females to advertise their mating availability, thereby inducing ma
How to read gel electrophoresis result How to read gel electrophoresis result
Composition of a long bone Composition of a long bone
A horizontal, 2.00 m long, 3.00 kg uniform beam that lies along the east-west di A horizontal, 2.00 m long, 3.00 kg uniform beam that lies along the east-west di
Video: Glomerular filtrate rate: pressures that affect GFR, NFP & GFR and blood composition

For a complete list of videos, visit our video library