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Author Question: Using the data in the above table, at the price of 80 a phone, a A) shortage of 25 thousand ... (Read 28 times)

anjilletteb

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on: Jun 29, 2018
Using the data in the above table, at the price of 80 a phone, a
 
  A) shortage of 25 thousand cellular telephones occurs.
  B) surplus of 80 thousand cellular telephones occurs.
  C) surplus of 25 thousand cellular telephones occurs.
  D) shortage of 55 thousand cellular telephones occurs.

Question 2

Which of the following is part of the market structure for monopolistic competition?
 
  A) barriers to entry
  B) a large number of firms compete
  C) each firm produces a differentiated product
  D) Both answers B and C are correct.


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moormoney

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

C

Answer to Question 2

D


anjilletteb

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Reply 2 on: Jun 29, 2018
Excellent

amandanbreshears

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

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