« previous next »

Author Question: Monopolistically competitive firms A) have market power because they can set price above marginal ... (Read 118 times)

piesebel

  • Hero Member
  • *****
  • Posts: 565
on: Jul 1, 2018
Monopolistically competitive firms
 
  A) have market power because they can set price above marginal cost.
  B) have no market power because they earn zero economic profit.
  C) have no market power because of free entry.
  D) have no market power because price equals marginal cost.

Question 2

Universities are able to act as monopsonists in the market for professors because
 
  A) a university usually does not consider hiring faculty members from another institution.
  B) faculty members usually have to move to a different city when changing universities.
  C) students like all of their professors.
  D) senior faculty members are willing to move to a new university at any cost.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


reelove4eva

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

Illicit drug use costs the United States approximately $181 billion every year.

The Power and Control Wheels of Abusive Relationships When one person in a relationship repeatedly ... The Power and Control Wheels of Abusive Relationships When one person in a relationship repeatedly ...
Project Management: Achieving Competitive Advantage Project Management: Achieving Competitive Advantage
Finding the derivative using the power rule - Solutions Finding the derivative using the power rule - Solutions
Economic objectives of firms Economic objectives of firms
Competitive firms and maximization Competitive firms and maximization
Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ... Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ...
Video: Cortisol (protein catabolism, gluconeogenesis, vasoconstriction & anti-inflammation)

For a complete list of videos, visit our video library