« previous next »

Author Question: Assume a monopolistically competitive firm is earning an economic profit. The marginal revenue from ... (Read 104 times)

cookcarl

  • Hero Member
  • *****
  • Posts: 539
on: Jun 30, 2018
Assume a monopolistically competitive firm is earning an economic profit. The marginal revenue from selling an additional unit is 30 and the marginal cost of producing that additional unit is 23 . The firm should
 a. change neither its price nor its output level
  b. reduce its price and increase its output level
  c. increase its price and reduce its output level
  d. reduce both its price and its output level
  e. increase both its price and its output level

Question 2

Technological change is decreasing competition in the market for media.
 a. True
  b. False


frankwu0507

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

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

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

It is believed that humans initially contracted crabs from gorillas about 3 million years ago from either sleeping in gorilla nests or eating the apes.

Rebound Tenderness, Apply Firm Pressure to the Abdomen Rebound Tenderness, Apply Firm Pressure to the Abdomen
competitive inhibition competitive inhibition
Project Management: Achieving Competitive Advantage, 5th Edition Project Management: Achieving Competitive Advantage, 5th Edition
economic question economic question
economic question economic question
economic question economic question
Video: Inflammation Animation

For a complete list of videos, visit our video library