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Author Question: An implication of the downward slope of the demand curve for a monopolistic competitive firm is that ... (Read 92 times)

deesands

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on: Jun 29, 2018
An implication of the downward slope of the demand curve for a monopolistic competitive firm is that
 
  A) its marginal revenue curve slopes upward.
  B) its marginal revenue curve and its demand curve are identical (same) line.
  C) its marginal revenue curve slopes downward but lies above the demand curve.
  D) its marginal revenue curve slopes downward but lies below the demand curve.

Question 2

Regarding the law of supply, which of the following statements is correct?
 
  A) As the price of a good or service rises, the quantity supplied will increase.
  B) As the price of a good or service rises, the quantity supplied will decrease.
  C) The ceteris paribus assumption does not apply.
  D) As demand falls, supply rises.


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jazzlynnnnn

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


deesands

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Reply #2 on: Jun 29, 2018
Thank you :)


jazzlynnnnn

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Reply #3 on: Jun 29, 2018
Happy to help you


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