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Author Question: A market in which firms can enter and leave so easily that firms in the market face competition from ... (Read 158 times)

shofmannx20

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on: Jun 29, 2018
A market in which firms can enter and leave so easily that firms in the market face competition from potential entrants is called a
 
  A) contestable market.
  B) cartel.
  C) limit pricing market.
  D) monopolistic competition market.

Question 2

Becky decides to spend 50 per month on DVD rentals and movie tickets. Her marginal utility schedules from these two goods are shown in the table above. The price of a DVD rental is 2.50, and the price of a movie ticket is 5.
 
  Suppose Becky rents 8 DVDs and buys 6 movie tickets per month. She A) cannot increase her total utility because she already gets the maximum possible utility from DVD rentals and movies within her budget.
  B) can increase her total utility if she rents more DVDs and buys more movie tickets.
  C) can increase her total utility if she rents more DVDs and buys fewer movie tickets.
  D) can increase her total utility if she rents fewer DVDs and buys more movie tickets.


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kbennett34

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

A

Answer to Question 2

D


shofmannx20

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

momolu

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

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