« previous next »

Author Question: A firm that has market power A) can charge whatever it wants for its product. B) can charge a ... (Read 59 times)

EY67

  • Hero Member
  • *****
  • Posts: 531
on: Jul 1, 2018
A firm that has market power
 
  A) can charge whatever it wants for its product.
  B) can charge a price above marginal cost.
  C) has positive economic profits.
  D) does not lose sales when increasing price.

Question 2

The rate at which a consumer must give up y to get one more x is equal to
 
  A) -Px/Py.
  B) -Py/Px.
  C) -MUx/MUy.
  D) MUy/MUx.


ciecieme

  • Sr. Member
  • ****
  • Posts: 331
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?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Mosaic of Charge-Coupled Devices (CCDs) Mosaic of Charge-Coupled Devices (CCDs)
Patent medicines contained a name brand that clearly identified the product and claimed to cure just ... Patent medicines contained a name brand that clearly identified the product and claimed to cure just ...
Product safety Product safety
Power of Positivity Power of Positivity
Use the product rule to find derivative Use the product rule to find derivative
During a period of high power demand, the voltage output of the power company is reduced by ... During a period of high power demand, the voltage output of the power company is reduced by ...
Video: Enzyme structure - Properties of enzymes

For a complete list of videos, visit our video library