This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The market structure in which a large number of firms compete by making similar but slightly ... (Read 64 times)

misspop

  • Hero Member
  • *****
  • Posts: 540
on: Jun 29, 2018
The market structure in which a large number of firms compete by making similar but slightly different products is called
 
  A) monopoly.
  B) monopolistic competition.
  C) perfect competition.
  D) oligopoly.

Question 2

The figure above shows short-run cost curves for a perfectly competitive firm. If the price of the product is 8, in the short run the firm will
 
  A) make zero economic profit.
  B) make an economic profit.
  C) incur an economic loss.
  D) None of the above answers is correct because more information is needed to determine the firm's economic profit or loss.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Chocorrol77

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


misspop

  • Member
  • Posts: 540
Reply 2 on: Jun 29, 2018
Wow, this really help

bblaney

  • Member
  • Posts: 323
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Many types of edible fungi are grown for the market. Many types of edible fungi are grown for the market.
The American Lion was one of the abundant Pleistocene megafauna, a wide variety of very large mammal The American Lion was one of the abundant Pleistocene megafauna, a wide variety of very large mammal
Norway lobsters on sale at a Spanish market Norway lobsters on sale at a Spanish market
A greater number of men than women hold full-time jobs, but the gap is closing because of an ... A greater number of men than women hold full-time jobs, but the gap is closing because of an ...
Structure of a Joint Structure of a Joint
How mitosis maintains the chromosome number. How mitosis maintains the chromosome number.
Video: How a Urinalysis is Performed

For a complete list of videos, visit our video library