« previous next »

Author Question: A monopolistically competitive firm has ________ power to set the price of its product because ... (Read 92 times)

Chelseaamend

  • Hero Member
  • *****
  • Posts: 545
on: Jun 29, 2018
A monopolistically competitive firm has ________ power to set the price of its product because ________.
 
  A) no; there are no barriers to entry
  B) some; there are barriers to entry
  C) no; of product differentiation
  D) some; of product differentiation

Question 2

Suppose the price of a soda is 2 each, the price of a hot dog is 3 each and the budget is 20. If the marginal utility of the fourth soda is 100 and the marginal utility of the fourth hot dog is 150, to maximize utility, a person will buy
 
  A) 4 sodas and 4 hot dogs.
  B) more hotdogs than 4 and fewer sodas than 4 because hot dogs provide more utility.
  C) more sodas than 4 to increase their utility.
  D) fewer sodas than 4 and more hot dogs than 4.


Tonny

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

Chelseaamend

  • Hero Member
  • *****
  • Posts: 545
Reply #2 on: Jun 29, 2018
Correct answers!


Tonny

  • Sr. Member
  • ****
  • Posts: 341
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

The human body produces and destroys 15 million blood cells every second.

Abdominal thrusts are delivered with a firm thrust into the patient’s abdomen with an upward ... Abdominal thrusts are delivered with a firm thrust into the patient’s abdomen with an upward ...
Effects of competitive inhibition on enzyme kinetics Effects of competitive inhibition on enzyme kinetics
The Fukushima disaster in Japan caused many governments to rethink their commitment to nuclear power The Fukushima disaster in Japan caused many governments to rethink their commitment to nuclear power
Firm handshake Firm handshake
Finding the derivative using the power rule - Solutions Finding the derivative using the power rule - Solutions
Physics: Power, Energy and Time Physics: Power, Energy and Time
Video: Major Elements in Biological Molecules: Proteins

For a complete list of videos, visit our video library