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Author Question: In a small town the level of demand is capable of supporting only two gas stations. This market is ... (Read 81 times)

tiffannnnyyyyyy

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on: Jun 29, 2018
In a small town the level of demand is capable of supporting only two gas stations. This market is
 
  A) a natural duopoly.
  B) perfectly competitive because a homogeneous good is being sold.
  C) operating as if it was a monopoly.
  D) an example of monopolistic competition.

Question 2

The table shows the demand and supply schedules for jeans.
 
  A) At 60 a pair, there is a shortage of jeans and the price will fall.
  B) At 60 a pair, there is a surplus of jeans and the price will rise.
  C) At 40 a pair, there is a shortage of jeans and the price will rise.
  D) At 40 a pair, there is a shortage of jeans and the price will fall.


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nikmaaacs

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

A

Answer to Question 2

C


tiffannnnyyyyyy

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

xiazhe

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Reply 3 on: Yesterday
Excellent

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