« previous next »

Author Question: Refer to the scenario above. If the number of bidders increases to 65, Molly's optimal bid for the ... (Read 90 times)

awywial

  • Hero Member
  • *****
  • Posts: 577
on: Jun 29, 2018
Refer to the scenario above. If the number of bidders increases to 65, Molly's optimal bid for the product would be ________, and her consumer surplus would be ________.
 
  A) 836.92; 13.08
  B) 831.11; 18.89
  C) 765.5; 25
  D) 750; 28.5

Question 2

As the number of firms in an oligopolistic market increases, ________.
 
  A) prices tend to decline toward marginal cost
  B) prices tend to rise above marginal cost
  C) the market demand for the good tends to fall
  D) profits earned by firms tend to rise


TINA

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The average older adult in the United States takes five prescription drugs per day. Half of these drugs contain a sedative. Alcohol should therefore be avoided by most senior citizens because of the dangerous interactions between alcohol and sedatives.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Flower part number is a characteristic difference between monocots and eudicots (a) Flowers and buds Flower part number is a characteristic difference between monocots and eudicots (a) Flowers and buds
Atmospheric pressure decreases as altitude increases. Atmospheric pressure decreases as altitude increases.
(a) Zombies are a common theme in movies. However, (b) the number of zombie movies released each yea (a) Zombies are a common theme in movies. However, (b) the number of zombie movies released each yea
Although average brain size increases gradually though time in H. erectus, individuals with small br Although average brain size increases gradually though time in H. erectus, individuals with small br
Cross-sectional data showing that the amount of effort spent on personal health care increases with Cross-sectional data showing that the amount of effort spent on personal health care increases with
Model of a sequential study in which two cohorts were followed beginning at age 20. One cohort was f Model of a sequential study in which two cohorts were followed beginning at age 20. One cohort was f
Video: Olfaction. or the sense of smell

For a complete list of videos, visit our video library