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Author Question: A monopolistically competitive firm and a monopoly are alike because both I. face downward sloping ... (Read 36 times)

madam-professor

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on: Jun 29, 2018
A monopolistically competitive firm and a monopoly are alike because both I. face downward sloping demand curves. II. have marginal revenue curves that lie beneath their demand curves. III. can make an economic profit in the long run.
 
  A) I only.
  B) I and II.
  C) I, II, and III.
  D) I and III.

Question 2

If I increase my consumption of a good and this has no impact the quantity you can consume of the same good, then this good is
 
  A) nonrival.
  B) nonexclusive.
  C) both nonrival and nonexclusive.
  D) a free good.


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lauravaras

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A


madam-professor

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Reply #2 on: Jun 29, 2018
Thank you


lauravaras

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Reply #3 on: Jun 29, 2018
No problemo


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