« previous next »

Author Question: Other things being constant, the only way to move along a given supply curve for a product is for ... (Read 89 times)

Davideckstein7

  • Hero Member
  • *****
  • Posts: 555
on: Jun 29, 2018
Other things being constant, the only way to move along a given supply curve for a product is for
 
  A) the product's relative price to change.
  B) the future relative price of related goods to change.
  C) the number of sellers to change.
  D) technological changes to occur.

Question 2

What are the implications of there being a large number of firms in a monopolistically competitive market?
 
  What will be an ideal response?


ririgirl15

  • Sr. Member
  • ****
  • Posts: 385
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A large number of firms has three implications. (1 ) Each firm will have a small share of the market since there are many firms. (2 ) There will be a lack of collusion among the firms because the large number will make it impossible for the firms to agree on price and output decisions. (3 ) Each firm will act independently from their competitors since they cannot take into account how their numerous competitors will react to changes in their behavior.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Zonal wind speeds on Uranus. Shaded areas show the southern collar and its future northern counterpa Zonal wind speeds on Uranus. Shaded areas show the southern collar and its future northern counterpa
The age-dependent curve of salivary progresterone levels in three populations. The age-dependent curve of salivary progresterone levels in three populations.
Deliberative nursing is a constant process of validating perceptions, thoughts, and feelings. Deliberative nursing is a constant process of validating perceptions, thoughts, and feelings.
Use the product rule to find derivative Use the product rule to find derivative
A 600-kg car is going around a curve with a radius of 120 m that is banked at an angle of 20° ... A 600-kg car is going around a curve with a radius of 120 m that is banked at an angle of 20° ...
A bell-shaped, or “normal,” curve shows the distribution of phenotypes for traits controlled by ... A bell-shaped, or “normal,” curve shows the distribution of phenotypes for traits controlled by ...
Video: Epidural Hematoma

For a complete list of videos, visit our video library