« previous next »

Author Question: A monopolistically competitive firm has ________ power to set the price of its product because ... (Read 109 times)

Chelseaamend

  • Hero Member
  • *****
  • Posts: 545
on: Jun 29, 2018
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.


Tonny

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

Chelseaamend

  • Hero Member
  • *****
  • Posts: 545
Reply #2 on: Jun 29, 2018
Correct answers!


Tonny

  • Sr. Member
  • ****
  • Posts: 341
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

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

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Rebound Tenderness, Apply Firm Pressure to the Abdomen Rebound Tenderness, Apply Firm Pressure to the Abdomen
The power and control wheel illustrates the strategies that one partner may use to intimidate, ... The power and control wheel illustrates the strategies that one partner may use to intimidate, ...
The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ... The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ...
Project Management: Achieving Competitive Advantage, 5th Edition Project Management: Achieving Competitive Advantage, 5th Edition
The Power of Classical Conditioning The Power of Classical Conditioning
If 0.40 mol of NaN3 reacts completely in the reaction shown below, then ________ L of N2 will ... If 0.40 mol of NaN3 reacts completely in the reaction shown below, then ________ L of N2 will ...
Video: Transmission Across a Synapse

For a complete list of videos, visit our video library