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Author Question: Refer to Scenario 2.1. What is the equilibrium price of books? A) 5 B) 10 C) 15 D) 20 E) ... (Read 14 times)

pragya sharda

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on: Jul 1, 2018
Refer to Scenario 2.1. What is the equilibrium price of books?
 
  A) 5
  B) 10
  C) 15
  D) 20
  E) none of the above

Question 2

Which of the following is true in long-run equilibrium for a firm in a monopolistic competitive industry?
 
  A) The demand curve is tangent to marginal cost curve.
  B) The demand curve is tangent to average cost curve.
  C) The marginal cost curve is tangent to average cost curve.
  D) The demand curve is tangent to marginal revenue curve.


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laurnthompson

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

D

Answer to Question 2

B


pragya sharda

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  • Posts: 566
Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

xiazhe

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

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