Author Question: Compared to a monopolistic competitor, a monopoly producer who was currently earning economic ... (Read 34 times)

dollx

  • Hero Member
  • *****
  • Posts: 558
Compared to a monopolistic competitor, a monopoly producer who was currently earning economic profits:
 a. would face a more elastic demand curve.
 b. would face a less elastic demand curve.
 c. could continue to earn economic profits for a longer period of time.
  d. would be characterized by both (b) and (c).

Question 2

According to economists, an individual who tries to derive utility from the consumption of a good without paying for it is called:
 a. a utility maximizer.
  b. a free rider.
  c. an opportunist.
  d. a profit maximizer.



amandalm

  • Sr. Member
  • ****
  • Posts: 306
Answer to Question 1

d

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

For a complete list of videos, visit our video library