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

Author Question: The market structure in which a large number of firms compete by making similar but slightly ... (Read 113 times)

misspop

  • Hero Member
  • *****
  • Posts: 540
on: Jun 29, 2018
The market structure in which a large number of firms compete by making similar but slightly different products is called
 
  A) monopoly.
  B) monopolistic competition.
  C) perfect competition.
  D) oligopoly.

Question 2

The figure above shows short-run cost curves for a perfectly competitive firm. If the price of the product is 8, in the short run the firm will
 
  A) make zero economic profit.
  B) make an economic profit.
  C) incur an economic loss.
  D) None of the above answers is correct because more information is needed to determine the firm's economic profit or loss.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Chocorrol77

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


misspop

  • Member
  • Posts: 540
Reply 2 on: Jun 29, 2018
Excellent

JaynaD87

  • Member
  • Posts: 368
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Asthma is the most common chronic childhood disease in the world. Most children who develop asthma have symptoms before they are 5 years old.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

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?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Number of lower molar cusps is one of the features used to distinguish sundadonts from sinodonts. Number of lower molar cusps is one of the features used to distinguish sundadonts from sinodonts.
Effleurage with loose fist to left side of neck. Turn the head slightly to the right side, exposing ... Effleurage with loose fist to left side of neck. Turn the head slightly to the right side, exposing ...
A model of transcription initiation as deduced from the crystal structure of TFIIB complexed A model of transcription initiation as deduced from the crystal structure of TFIIB complexed
The Making of a Protein The Making of a Protein
Microscopic structure of the retina Microscopic structure of the retina
Structure of the small intestine. Structure of the small intestine.
Video: Hormonal regulation of pregnancy - week 1

For a complete list of videos, visit our video library