« previous next »

Author Question: If only two identical firms operate in a market, consumers prefer A) a Cournot equilibrium. B) a ... (Read 59 times)

vinney12

  • Hero Member
  • *****
  • Posts: 586
on: Jul 1, 2018
If only two identical firms operate in a market, consumers prefer
 
  A) a Cournot equilibrium.
  B) a Stackelberg equilibrium.
  C) a collusive equilibrium.
  D) any equilibrium since they all result in the same consumer surplus.

Question 2

If a firm pays its workers 10 per hour, the marginal product of labor is 5 units per hour, and the price of the firm's product is 15 per unit, what is the price elasticity of demand facing the firm?
 
  A) -1.15
  B) -2.15
  C) -1.0
  D) -3.56
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


soda0602

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

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?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

DNA molecules replicate to form identical chromatids DNA molecules replicate to form identical chromatids
After connecting the shutoff tool, start the engine and operate all accessories. Stop the engine ... After connecting the shutoff tool, start the engine and operate all accessories. Stop the engine ...
Stock Market Question Stock Market Question
Look at Table 4.2.2. Consumers learn that the rubber ducks wear out batteries quickly. As a ... Look at Table 4.2.2. Consumers learn that the rubber ducks wear out batteries quickly. As a ...
What is the value of the equilibrium constant, K, at 25°C for the reaction? What is the value of the equilibrium constant, K, at 25°C for the reaction?
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
Video: Evolutionary tree of life Animation

For a complete list of videos, visit our video library