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 108 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
:D TYSM

cassie_ragen

  • Member
  • Posts: 347
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

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?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

(a) Feeding by bear on salmon results in large allochthonous inputs of nutrients into (b) the forest (a) Feeding by bear on salmon results in large allochthonous inputs of nutrients into (b) the forest
Plasma protein binding and drug availability: (a) drug exists in a free state or bound to plasma pro Plasma protein binding and drug availability: (a) drug exists in a free state or bound to plasma pro
Ketone structure Ketone structure
“Career choice” for many women means leaving their paid jobs for a number of years when they ... “Career choice” for many women means leaving their paid jobs for a number of years when they ...
Stock Market Tracks Growth in GDP Stock Market Tracks Growth in GDP
Structure of ATP Structure of ATP
Video: Introduction to Human Immunodeficiency Virus (HIV)

For a complete list of videos, visit our video library