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Author Question: A consumer maximizes her total utility from a bundle of goods when her marginal utility from each ... (Read 143 times)

mikaylakyoung

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on: Jun 29, 2018
A consumer maximizes her total utility from a bundle of goods when her marginal utility from each good is equal.
 
  Indicate whether the statement is true or false

Question 2

Which of the following is important in determining the extent of competition in an industry?
 
  A) the level of market demand for the industry's product
  B) whether or not the industry product is differentiated or standardized
  C) the minimum efficient scale of production relative to market demand
  D) the minimum level of short-run average total costs of production
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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bblaney

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Reply #1 on: Jun 29, 2018
Answer to Question 1

FALSE

Answer to Question 2

C


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