This topic contains a solution. Click here to go to the answer

Author Question: ________ natural resources are natural resources that can be used repeatedly, and ________ natural ... (Read 38 times)

Themember4

  • Hero Member
  • *****
  • Posts: 538
________ natural resources are natural resources that can be used repeatedly, and ________ natural resources are natural resources that can be used only once.
 
  A) Nonrenewable; renewable
  B) Renewable; hydrocarbon
  C) Renewable; nonrenewable
  D) Non-fossil; fossil

Question 2

Explain the role of advertising in monopolistic competition. Describe how advertising by all firms in a monopolistically competitive industry impacts a firm's ATC curve, its MC curve, its demand curve, and its MR curve.
 
  What will be an ideal response?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Carissamariew

  • Sr. Member
  • ****
  • Posts: 359
Answer to Question 1

C

Answer to Question 2

In order to maintain (or regain) economic profit, a firm in monopolistic competition must continually develop new products that are unique and/or of high quality (or make consumers believe this). Advertising lets firms signal this information. So all firms in monopolistic competition tend to advertise extensively.
Advertising is a fixed cost and it shifts the ATC curve upward. Even though advertising shifts to the ATC curve upward, the total average cost might be lower if it increases the amount sold by enough. Because advertising is a fixed cost, it has no effect on the marginal cost, so the MC curve does not change. Because all firms advertise, advertising might or might not increase demand for a specific firm. When all firms advertise, the demand curve and marginal revenue curve for a specific firm become more elastic.




Themember4

  • Member
  • Posts: 538
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it


dantucker

  • Member
  • Posts: 346
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

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?

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 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.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

For a complete list of videos, visit our video library