This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following statements is true of market prices in a perfectly competitive market? A) ... (Read 34 times)

Bernana

  • Hero Member
  • *****
  • Posts: 530
on: Jun 29, 2018
Which of the following statements is true of market prices in a perfectly competitive market?
 
  A) Market prices are determined by the government.
  B) Market prices allow for efficient allocation of scarce resources.
  C) Market prices are not stable and fluctuate widely.
  D) Market prices do not act as incentives for buyers.

Question 2

If the Palace Cinema can sell 200 tickets at 4 and 300 tickets at 3, our best estimate of the marginal revenue from sale of the 250th ticket is
 
  A) 4.
  B) 3.50.
  C) 3.
  D) 1.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

dmurph1496

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


Bernana

  • Member
  • Posts: 530
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

frankwu0507

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Apparent and True Orbits of Alpha Centauri. Apparent and True Orbits of Alpha Centauri.
Non-competitive inhibition Non-competitive inhibition
Which of the following statements is true of linkage? Which of the following statements is true of linkage?
A slave market in Marrakesh, Morocco. This lithograph is from the 1800s. A slave market in Marrakesh, Morocco. This lithograph is from the 1800s.
Competitive inhibitor Competitive inhibitor
Video: Transcription - Introns and exons

For a complete list of videos, visit our video library