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

Author Question: Which of the following describes the relationship among market price (P), average revenue (AR), and ... (Read 95 times)

809779

  • Hero Member
  • *****
  • Posts: 579
on: Jun 30, 2018
Which of the following describes the relationship among market price (P), average revenue (AR), and marginal revenue (MR) for a firm in monopolistic competition.
 a. P = AR = MR
  b. P > AR = MR
  c. P = AR > MR
  d. P > AR > MR
  e. P = AR < MR

Question 2

A good that is both rival and exclusive is called
 a. a private good
  b. a public good
  c. a quasi-private good
  d. an external good
  e. an open access good


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cclemon1

  • Sr. Member
  • ****
  • Posts: 312
Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

A


809779

  • Member
  • Posts: 579
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

kalskdjl1212

  • Member
  • Posts: 353
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

The average older adult in the United States takes five prescription drugs per day. Half of these drugs contain a sedative. Alcohol should therefore be avoided by most senior citizens because of the dangerous interactions between alcohol and sedatives.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Relationship between fruit radius and beak length in populations of native and introduced species of Relationship between fruit radius and beak length in populations of native and introduced species of
The relationship between air temperature and two measures of water vapour saturation of air. The relationship between air temperature and two measures of water vapour saturation of air.
Average Global Temperature during the Phanerozoic Average Global Temperature during the Phanerozoic
Relationship Between Training Intensity and VO2max Improvement Relationship Between Training Intensity and VO2max Improvement
Plan of Trajan's Forum and Market "خطة منتدى ترجان والسوق" Plan of Trajan's Forum and Market "خطة منتدى ترجان والسوق"
The net price of an article is $79.84. What is the list price if a discount of 23% was allowed? The net price of an article is $79.84. What is the list price if a discount of 23% was allowed?
Video: Oral Hygiene & Braces Animation

For a complete list of videos, visit our video library