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Author Question: A wheat farmer and a firm in a perfectly competitive market are similar in that A) both will earn ... (Read 85 times)

jhjkgdfhk

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on: Jun 29, 2018
A wheat farmer and a firm in a perfectly competitive market are similar in that
 
  A) both will earn an economic profit if their total revenue equals their total cost.
  B) both face vertical demand curves.
  C) both have to lower their prices if a rival firm lowers its price.
  D) both face horizontal demand curves.

Question 2

If a monopolistically competitive firm lowers its price and, as a result, its total revenue decreases then
 
  A) the output effect of the price change was less than the price effect.
  B) the output effect of the price change was greater than the price effect.
  C) the substitution effect of the price change was greater than the income effect.
  D) the firm's demand curve must have decreased.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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harveenkau8139

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Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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jhjkgdfhk

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

tandmlomax84

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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