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

Author Question: Firms in monopolistic competition always will A) make an economic profit. B) set their price ... (Read 37 times)

moongchi

  • Hero Member
  • *****
  • Posts: 516
on: Jun 29, 2018
Firms in monopolistic competition always will
 
  A) make an economic profit.
  B) set their price equal to their marginal cost.
  C) set their price above their marginal cost.
  D) produce at the minimum average total cost.

Question 2

Two duopoly firms form a cartel. They decide to collude and fix the price of their good. Each individual firm will earn the highest profit if
 
  A) it cheats and the other sticks with the agreement.
  B) both stick with the agreement.
  C) it sticks with the agreement and the other cheats.
  D) they both cheat.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

joneynes

  • Sr. Member
  • ****
  • Posts: 376
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

A


moongchi

  • Member
  • Posts: 516
Reply 2 on: Jun 29, 2018
:D TYSM

LegendaryAnswers

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Effect of Perceived Price of a Drug on Placebo Analgesia Effect of Perceived Price of a Drug on Placebo Analgesia
Couples whose marriages have become distant or hostile can make changes in their patterns of ... Couples whose marriages have become distant or hostile can make changes in their patterns of ...
Make a note of the reading on the gauge after the first “puff,” which indicates the first ... Make a note of the reading on the gauge after the first “puff,” which indicates the first ...
All fuel injectors should make the same sound with the engine running at idle speed. A lack of sound ... All fuel injectors should make the same sound with the engine running at idle speed. A lack of sound ...
economic question economic question
economic question economic question
Video: Rods and Cones Animation

For a complete list of videos, visit our video library