Author Question: If firms in a monopolistically competitive industry are making an economic profit, then definitely ... (Read 78 times)

tichca

  • Hero Member
  • *****
  • Posts: 554
If firms in a monopolistically competitive industry are making an economic profit, then definitely there is
 
  A) a leftward shift in each firm's demand curve as new firms enter the market.
  B) a rightward shift in each firm's marginal revenue curve as new firms enter the market.
  C) an upward shift in each firm's cost curves as new firms enter the market.
  D) All of the above answers are correct.

Question 2

When the price of popcorn falls, before there is any change in consumption, the
 
  A) marginal utility of popcorn definitely increases.
  B) marginal utility per dollar from popcorn definitely increases.
  C) total expenditure on popcorn definitely rises.
  D) entire total utility of popcorn curve definitely shifts rightward.



cici

  • Sr. Member
  • ****
  • Posts: 325
Answer to Question 1

A

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

For a complete list of videos, visit our video library