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Author Question: If a firm spends 600 more on advertising, its goal is for the demand curve for its product to shift ... (Read 7 times)

rmenurse

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on: Jun 29, 2018
If a firm spends 600 more on advertising, its goal is for the demand curve for its product to shift ________ and its marginal revenue curve to shift ________.
 
  A) leftward; rightward
  B) leftward; leftward
  C) rightward; leftward
  D) rightward, rightward

Question 2

A student wrote: Monopolistic competition is a market structure in which a small number of firms compete by making an identical product. If you were the instructor, how would you correct this statement?
 
  What will be an ideal response?


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triiciiaa

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

D

Answer to Question 2

The answer is wrong in several respects: Monopolistic competition is a market structure in which a small large number of firms compete by making an identical product similar but slightly different products.


rmenurse

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

dantucker

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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