« previous next »

Author Question: Assume a monopolistically competitive firm is earning an economic profit. The marginal revenue from ... (Read 107 times)

cookcarl

  • Hero Member
  • *****
  • Posts: 539
on: Jun 30, 2018
Assume a monopolistically competitive firm is earning an economic profit. The marginal revenue from selling an additional unit is 30 and the marginal cost of producing that additional unit is 23 . The firm should
 a. change neither its price nor its output level
  b. reduce its price and increase its output level
  c. increase its price and reduce its output level
  d. reduce both its price and its output level
  e. increase both its price and its output level

Question 2

Technological change is decreasing competition in the market for media.
 a. True
  b. False


frankwu0507

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ... The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ...
economic question economic question
economic question economic question
economic question economic question
economic question economic question
Video: Brain Anatomy Animation (Part 1 of 2)

For a complete list of videos, visit our video library