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

Author Question: In the short run, a firm in a monopolistic competition will produce the amount of output where its ... (Read 80 times)

Mr3Hunna

  • Hero Member
  • *****
  • Posts: 536
on: Jun 29, 2018
In the short run, a firm in a monopolistic competition will produce the amount of output where its
 
  A) marginal revenue equals marginal cost and will set its price according to the demand for that amount of output.
  B) marginal revenue equals marginal cost and takes the market price as given.
  C) average revenue equals average cost and will set its price according to the demand for that amount of output.
  D) average revenue equals its average cost and takes the market price as given.

Question 2

Free riding is not a problem in the market for a private good because
 
  A) people who do not pay for the good can be excluded from consumption.
  B) the good is a rival good.
  C) the market eliminates the problem of externalities.
  D) The question errs because free riding is a problem in providing private goods.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

swimkari

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


Mr3Hunna

  • Hero Member
  • *****
  • Posts: 536
Reply #2 on: Jun 29, 2018
Thank you


swimkari

  • Sr. Member
  • ****
  • Posts: 332
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

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?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Plant apical meristems and the primary tissues they produce. Plant apical meristems and the primary tissues they produce.
Cellular changes associated with short-term and long-term memory in the sea slug. Cellular changes associated with short-term and long-term memory in the sea slug.
An IAC controls idle speed by controlling the amount of air that passes around the throttle plate. ... An IAC controls idle speed by controlling the amount of air that passes around the throttle plate. ...
The amount each injector is able to flow is displayed in glass cylinders are each injector for a ... The amount each injector is able to flow is displayed in glass cylinders are each injector for a ...
The major cortical input and output pathways of the posterior parietal association cortex. Shown are ... The major cortical input and output pathways of the posterior parietal association cortex. Shown are ...
The surface temperature of the star is 6000 K. At what wavelength is its light output a maximum The surface temperature of the star is 6000 K. At what wavelength is its light output a maximum
Video: Proteins

For a complete list of videos, visit our video library