« previous next »

Author Question: Suppose your firm operates in a perfectly competitive market and decides to double its output. How ... (Read 149 times)

renzo156

  • Hero Member
  • *****
  • Posts: 526
on: Jul 1, 2018
Suppose your firm operates in a perfectly competitive market and decides to double its output. How does this affect the firm's marginal profit?
 
  A) Marginal revenue and marginal cost increase
  B) Marginal revenue increases but marginal cost remains the same
  C) Marginal cost may change but marginal revenue remains the same
  D) Marginal revenue and marginal cost decrease

Question 2

A consumer or producer who does not pay for use of a nonexclusive good but expects others to pay is known as a:
 
  A) free rider.
  B) price setter.
  C) fringe element.
  D) none of the above


lolol

  • Sr. Member
  • ****
  • Posts: 330
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?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

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.

Watson and Crick and their model of the DNA double helix Watson and Crick and their model of the DNA double helix
Double Chin Double Chin
When the exhaust is rich, the output of a zirconia oxygen sensor is above 450 mV. When the exhaust is rich, the output of a zirconia oxygen sensor is above 450 mV.
A Herpesviridae virus, the herpes simplex virion. It has an icosahedral capsid with double-stranded ... A Herpesviridae virus, the herpes simplex virion. It has an icosahedral capsid with double-stranded ...
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
Possible Sources of Differences in Output per Worker Possible Sources of Differences in Output per Worker
Video: Carbon fixing adaptations Animation

For a complete list of videos, visit our video library