This topic contains a solution. Click here to go to the answer

Author Question: In monopolistic competition, a firm must determine what price to set for its good because A) the ... (Read 69 times)

folubunmi

  • Hero Member
  • *****
  • Posts: 524
In monopolistic competition, a firm must determine what price to set for its good because
 
  A) the demand for its good is not perfectly elastic.
  B) the demand for its good is perfectly elastic.
  C) there are many buyers.
  D) there are many sellers.

Question 2

Given the data in the above table, income of 13, a price of 1 for a bottle of water and 2.00 for a hamburger, what is the marginal utility per dollar spent on the fifth hamburger?
 
  A) 10 units of utility
  B) 8 units of utility
  C) 6 units of utility
  D) 4 units of utility



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ynlevi

  • Sr. Member
  • ****
  • Posts: 338
Answer to Question 1

A

Answer to Question 2

D




folubunmi

  • Member
  • Posts: 524
Reply 2 on: Jun 29, 2018
:D TYSM


parshano

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Excellent

 

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

For a complete list of videos, visit our video library