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

Author Question: Firms in monopolistic competition have rivals that A) match their price increases. B) match ... (Read 60 times)

swpotter12

  • Hero Member
  • *****
  • Posts: 527
on: Jun 29, 2018
Firms in monopolistic competition have rivals that
 
  A) match their price increases.
  B) match their price decreases.
  C) agree on a common price.
  D) set their prices according to the demand curves they face.

Question 2

Once a cartel determines the profit-maximizing price
 
  A) each firm faces the temptation to cheat by raising its price.
  B) each firm faces the temptation to cheat by lowering its price.
  C) changes in the output of any member firm will not affect the market price.
  D) entry into the industry by rival firms will not affect the profit of the cartel.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Expo

  • Sr. Member
  • ****
  • Posts: 351
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

B


swpotter12

  • Member
  • Posts: 527
Reply 2 on: Jun 29, 2018
:D TYSM

triiciiaa

  • Member
  • Posts: 349
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

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

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Gene duplication increases genetic complexity Gene duplication increases genetic complexity
The different types of competition in nature. The different types of competition in nature.
Alexander Fleming photographed in his lab where he observed the natural competition between a fungus Alexander Fleming photographed in his lab where he observed the natural competition between a fungus
Mechanism of action of anti-parkinson drugs. (a) Levodopa therapy increases dopamine production; (b) ... Mechanism of action of anti-parkinson drugs. (a) Levodopa therapy increases dopamine production; (b) ...
If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ... If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ...
Competitive firms and maximization Competitive firms and maximization
Video: Leukemia

For a complete list of videos, visit our video library