« previous next »

Author Question: Which of the following statements regarding the efficiency of monopolistic competition is FALSE? ... (Read 17 times)

B

  • Hero Member
  • *****
  • Posts: 570
on: Jun 29, 2018
Which of the following statements regarding the efficiency of monopolistic competition is FALSE?
 
  A) Compared to a situation with total product uniformity, monopolistic competition might be efficient.
  B) Resources are used efficiently when marginal social benefits equals marginal social cost.
  C) Monopolistic competition is definitely inefficient because price exceeds marginal cost.
  D) A greater degree of product variety creates a loss because the quantity produced is less than the efficient quantity.

Question 2

An indifference curve will become ________ the origin the more that the consumer considers the two goods as complements.
 
  A) more bowed-in towards
  B) less bowed-in towards
  C) less bowed-out from
  D) more bowed-out from


tashiedavis420

  • Sr. Member
  • ****
  • Posts: 329
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Influence of abiotic factors on competition between T. castaneum and T. confusum. Influence of abiotic factors on competition between T. castaneum and T. confusum.
Production efficiency. Production efficiency.
False Solomons Seal False Solomons Seal
J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
The human X chromosome (left) and the Y chromosome (right). This false-color scanning electron micro The human X chromosome (left) and the Y chromosome (right). This false-color scanning electron micro
Video: Conduction of action potentials

For a complete list of videos, visit our video library