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Author Question: Assume that a product upgrade strategy adopted by a microwave oven manufacturer increases his ... (Read 75 times)

Sportsfan2111

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on: Jun 30, 2018
Assume that a product upgrade strategy adopted by a microwave oven manufacturer increases his marginal cost by 1.50 . If the strategy also increases the demand for the product by 3.50 per unit, total economic value will increase.
  Indicate whether the statement is true or false

Question 2

Excess capacity occurs in long-run equilibrium under monopolistic competition so that:
 a. price is less than marginal cost.
 b. price exceeds minimum average cost.
  c. marginal revenue exceeds price.
 d. all of the above occur.


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aloop

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Reply #1 on: Jun 30, 2018
Answer to Question 1

T

Answer to Question 2

b


Sportsfan2111

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Reply 2 on: Jun 30, 2018
Wow, this really help

carlsona147

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

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