« previous next »

Author Question: If only two identical firms operate in a market, consumers prefer A) a Cournot equilibrium. B) a ... (Read 106 times)

vinney12

  • Hero Member
  • *****
  • Posts: 586
on: Jul 1, 2018
If only two identical firms operate in a market, consumers prefer
 
  A) a Cournot equilibrium.
  B) a Stackelberg equilibrium.
  C) a collusive equilibrium.
  D) any equilibrium since they all result in the same consumer surplus.

Question 2

If a firm pays its workers 10 per hour, the marginal product of labor is 5 units per hour, and the price of the firm's product is 15 per unit, what is the price elasticity of demand facing the firm?
 
  A) -1.15
  B) -2.15
  C) -1.0
  D) -3.56
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


soda0602

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Vapour-liquid equilibrium acetone + water Vapour-liquid equilibrium acetone + water
An 80-g aluminum calorimeter contains 380 g of water at an equilibrium temperature of A piece ... An 80-g aluminum calorimeter contains 380 g of water at an equilibrium temperature of A piece ...
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ... Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ...
Markets and Institutions Market Story Problem Markets and Institutions Market Story Problem
There are four hospitals (consumers in this example) willing to pay the following amounts for a ... There are four hospitals (consumers in this example) willing to pay the following amounts for a ...
Video: Bipolar Disorder

For a complete list of videos, visit our video library