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Author Question: Firm's should lower the price of their goods a. If the demand for the product is elastic b. If it ... (Read 29 times)

dejastew

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  • Posts: 562
on: Jul 1, 2018
Firm's should lower the price of their goods
 a. If the demand for the product is elastic
  b. If it acquires a firm selling a complement good
  c. If it acquires a firm selling a substitute good
  d. Both a and b

Question 2

In the purely competitive case, marginal revenue (MR) is equal to:
 a. cost
  b. profit
  c. price
  d. total revenue
  e. none of the above


babybsemail

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Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

c


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