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Author Question: Refer to the table above. If the firm is a monopolistic competitor, what is the equilibrium price ... (Read 84 times)

notis

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on: Jun 29, 2018
Refer to the table above. If the firm is a monopolistic competitor, what is the equilibrium price charged by the firm?
 
  A) 77
  B) 80
  C) 65
  D) 57

Question 2

Explain whether the statement The government should increase tariffs on Japanese cars to protect the American car industry from competition, is a normative or positive statement.
 
  What will be an ideal response?


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dominiqueenicolee

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

C

Answer to Question 2

The statement is normative. The statement is a normative statement because it depends on a value judgment, namely that the government should protect the American car industry from competition.


notis

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

ryansturges

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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