« previous next »

Author Question: Firm's should lower the price of their goods a. If the demand for the product is elastic b. If it ... (Read 36 times)

dejastew

  • Hero Member
  • *****
  • 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

  • Sr. Member
  • ****
  • Posts: 304
Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Lungs: RUL = Right Upper Lobe, RML = Right Middle Lobe, RLL = Right Lower Lobe, LUL = Left Upper Lob Lungs: RUL = Right Upper Lobe, RML = Right Middle Lobe, RLL = Right Lower Lobe, LUL = Left Upper Lob
Myocardial Oxygen supply and demand Myocardial Oxygen supply and demand
The upper intake manifold, often called a plenum, attaches to the lower intake manifold. The upper intake manifold, often called a plenum, attaches to the lower intake manifold.
The growing demand for electrical power, carbon sequestration and storage must be a priority The growing demand for electrical power, carbon sequestration and storage must be a priority
The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage
The functional role of pRB. The pRB protein product of RB1 The functional role of pRB. The pRB protein product of RB1
Video: Lipid digestion - mouth, stomach and small intestine

For a complete list of videos, visit our video library