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Author Question: Refer to Figure 4-9. For each unit sold, the price sellers receive after the tax (net of tax) is ... (Read 40 times)

Coya19@aol.com

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on: Jun 29, 2018
Refer to Figure 4-9. For each unit sold, the price sellers receive after the tax (net of tax) is
 
  A) 12. B) 8. C) 4.40. D) 3.

Question 2

What decision must be made by firms with market power that is not made by firms which operate in perfectly competitive markets? Explain.
 
  What will be an ideal response?


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kswal303

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

D

Answer to Question 2

Firms with market power must choose what price to charge for their products. Firms in perfect competition do not set price because they are price takers.


Coya19@aol.com

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

shewald78

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Reply 3 on: Yesterday
Excellent

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