Author Question: In a market characterized by many sellers, if an outsider devises a way to reduce transaction costs ... (Read 71 times)

Tirant22

  • Hero Member
  • *****
  • Posts: 532
In a market characterized by many sellers, if an outsider devises a way to reduce transaction costs it will:
 a. benefit both buyers and sellers.
  b. cause both buyers and sellers to lose.
  c. benefit the buyers but cause the sellers to lose.
  d. benefit the sellers but cause the buyers to lose.

Question 2

Since a monopolistically competitive firm faces a ____ demand curve, it will always operate ____ in long-run equilibrium.
 a. perfectly elastic; with excess capacity
 b. downward-sloping; with excess capacity
 c. downward-sloping; at an economically efficient scale
  d. perfectly inelastic; at an economically efficient scale



kxciann

  • Sr. Member
  • ****
  • Posts: 356
Answer to Question 1

A

Answer to Question 2

b



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

For a complete list of videos, visit our video library