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Author Question: In a contestable market with one firm in the market, the existing firm will A) set its price ... (Read 94 times)

crazycityslicker

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on: Jun 29, 2018
In a contestable market with one firm in the market, the existing firm will
 
  A) set its price equal to the monopoly price.
  B) set its price lower than the monopoly price.
  C) set its price higher than the monopoly price.
  D) have a demand curve that is horizontal at the price that will attract new firms to enter the market.

Question 2

In the above table, the total cost of producing 9 units of output is
 
  A) 20.
  B) 30.
  C) 50.
  D) 70.


stillxalice

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


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