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Author Question: A firm that has market power A) can charge whatever it wants for its product. B) can charge a ... (Read 67 times)

EY67

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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

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

B

Answer to Question 2

A


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