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Author Question: If the compensated (Hicks) and Marshall demand curves for a good intersect, at that point the ... (Read 66 times)

skymedlock

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on: Jul 1, 2018
If the compensated (Hicks) and Marshall demand curves for a good intersect, at that point the Marshall curve will be:
 a. flatter if this is a normal good.
  b. steeper if this is a normal good.
  c. flatter if this is an inferior good.
  d. horizontal.

Question 2

A monopolist faces the following demand curve: P = 12 - .3Q with marginal costs of 3 . What is the monopolistic PRICE?
 a. P = 5.50
  b. P = 6.50
  c. P = 7.50
  d. P = 8.50
  e. P = 9.50


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brittanywood

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Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

c


skymedlock

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  • Posts: 561
Reply 2 on: Jul 1, 2018
Wow, this really help

nathang24

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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