« previous next »

Author Question: Suppose an oligopoly has a dominant firm that sets the price for the entire industry. In this ... (Read 115 times)

newbem

  • Hero Member
  • *****
  • Posts: 579
on: Jun 30, 2018
Suppose an oligopoly has a dominant firm that sets the price for the entire industry. In this situation, the oligopoly has:
 a. nonprice competition. b. a kinked demand curve.
  c. price leadership. d. a cartel.

Question 2

A firm can produce 450 gallons of milk per day with 4 workers and 500 gallons per day with 5 workers. The marginal product of the fifth worker expressed in gallons per worker per day, is:
 a. 35.
  b. 50.
  c. 70.
  d. 350.


gstein359

  • Sr. Member
  • ****
  • Posts: 293
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

b


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

newbem

  • Hero Member
  • *****
  • Posts: 579
Reply #2 on: Jun 30, 2018
Correct answers!


gstein359

  • Sr. Member
  • ****
  • Posts: 293
Reply #3 on: Jun 30, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

A mere one-half percent of Americans owns over a quarter of the entire nation’s wealth. Very few ... A mere one-half percent of Americans owns over a quarter of the entire nation’s wealth. Very few ...
Structural MRI can be used to provide three-dimensional images of the entire brain. (Courtesy of ... Structural MRI can be used to provide three-dimensional images of the entire brain. (Courtesy of ...
Basic two-handed kneading. Tissues are lifted with the whole hand in firm contact. Basic two-handed kneading. Tissues are lifted with the whole hand in firm contact.
Finishing techniques to entire leg. Start with basic effleurage from ankle to hip. Redrape the leg. ... Finishing techniques to entire leg. Start with basic effleurage from ankle to hip. Redrape the leg. ...
Effleurage to the entire back to apply oil. Stand at the side of the table near the recipient’s ... Effleurage to the entire back to apply oil. Stand at the side of the table near the recipient’s ...
Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ... Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ...
Video: Optic Nerve and Optic Disk Animation (Part 1 of 2)

For a complete list of videos, visit our video library