This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The cookie industry in Eatsweetland consists of 15 firms. The industry sales are 80 million per ... (Read 185 times)

colton

  • Hero Member
  • *****
  • Posts: 627
on: Jun 29, 2018
The cookie industry in Eatsweetland consists of 15 firms. The industry sales are 80 million per month. The sales of the largest 5 firms are shown in the table below. The rest 10 firms have sales of 3 million each. The U.S.
 
  Department of Justice would classify the market for cookies in Eatsweetland as A) competitive.
  B) uncompetitive.
  C) moderately competitive.
  D) monopolistic.

Question 2

In the long run, a firm in a monopolistically competitive industry produces where its marginal cost
 
  A) is less than its average cost.
  B) equals its average cost.
  C) exceeds its average cost.
  D) equals its price.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

carlsona147

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

A


colton

  • Member
  • Posts: 627
Reply 2 on: Jun 29, 2018
Excellent

olderstudent

  • Member
  • Posts: 339
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Hong Kong is a strange situation. A British colony since 1842, it was handed back to China in 1997 a Hong Kong is a strange situation. A British colony since 1842, it was handed back to China in 1997 a
J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
A partial stream sampling exhaust probe being used to measure exhaust gases in parts per million ... A partial stream sampling exhaust probe being used to measure exhaust gases in parts per million ...
The human eye, a product of 600 million years of evolution (Lamb, Collin, & Pugh, 2007). The human eye, a product of 600 million years of evolution (Lamb, Collin, & Pugh, 2007).
Natural Resources and Industry Natural Resources and Industry
Earth 600 Million Years Ago Earth 600 Million Years Ago
Video: Exercise and cardiac output & Definition of stroke volume

For a complete list of videos, visit our video library