A monopolistically competitive firm has ________ power to set the price of its product because ________.
A) no; there are no barriers to entry
B) some; there are barriers to entry
C) no; of product differentiation
D) some; of product differentiation
Question 2
Suppose the price of a soda is 2 each, the price of a hot dog is 3 each and the budget is 20. If the marginal utility of the fourth soda is 100 and the marginal utility of the fourth hot dog is 150, to maximize utility, a person will buy
A) 4 sodas and 4 hot dogs.
B) more hotdogs than 4 and fewer sodas than 4 because hot dogs provide more utility.
C) more sodas than 4 to increase their utility.
D) fewer sodas than 4 and more hot dogs than 4.
combined-cycle power plant
Non-competitive inhibition
The Power of Classical Conditioning
Use the power rule to find derivative
Differentiate each function with respect to x. (Power rule)
Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ...