Author Question: If firms in a monopolistically competitive industry are making an economic profit, then definitely ... (Read 77 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?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

For a complete list of videos, visit our video library