« previous next »

Author Question: Monopolistically competitive firms A) have market power because they can set price above marginal ... (Read 120 times)

piesebel

  • Hero Member
  • *****
  • Posts: 565
on: Jul 1, 2018
Monopolistically competitive firms
 
  A) have market power because they can set price above marginal cost.
  B) have no market power because they earn zero economic profit.
  C) have no market power because of free entry.
  D) have no market power because price equals marginal cost.

Question 2

Universities are able to act as monopsonists in the market for professors because
 
  A) a university usually does not consider hiring faculty members from another institution.
  B) faculty members usually have to move to a different city when changing universities.
  C) students like all of their professors.
  D) senior faculty members are willing to move to a new university at any cost.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


reelove4eva

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Alan Price - Poor People Alan Price - Poor People
Nuclear power Nuclear power
Politics, Power and the Common Good: An Introduction to Political Science, 5/E Politics, Power and the Common Good: An Introduction to Political Science, 5/E
Simplify. Write as a single power. Simplify. Write as a single power.
Competitive firms and maximization Competitive firms and maximization
Power Grip and Precision Grip Power Grip and Precision Grip
Video: Immune responses Animation

For a complete list of videos, visit our video library