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

Author Question: A consumer has 40 that he wants to spend. He is faced with four options: a camera that costs 60, a ... (Read 23 times)

nevelica

  • Hero Member
  • *****
  • Posts: 563
on: Jun 29, 2018
A consumer has 40 that he wants to spend. He is faced with four options: a camera that costs 60, a cell phone that costs 150, a book that costs 10, and a Bluetooth speaker that costs 45.
 
  Which of the following is a feasible option for the consumer? A) The book
  B) The camera
  C) The cell phone
  D) The Bluetooth speaker

Question 2

How does the exit of firms from a monopolistically competitive market affect the demand curves faced by the existing firms?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

izzat

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

The exit of firms from a monopolistically competitive market shifts the demand curves faced by the existing firms to the right and causes them to become steeper.


nevelica

  • Member
  • Posts: 563
Reply 2 on: Jun 29, 2018
Gracias!

patma1981

  • Member
  • Posts: 292
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

wrinkle-faced bat wrinkle-faced bat
Increasing Costs of Natural Disasters Increasing Costs of Natural Disasters
Increasing Costs of Natural Disasters Increasing Costs of Natural Disasters
The first published illustration of a camera obscura observing a solar eclipse. The first published illustration of a camera obscura observing a solar eclipse.
The Food Label Provides Valuable Consumer Information Manufacturers must adhere to strict labeling The Food Label Provides Valuable Consumer Information Manufacturers must adhere to strict labeling
A variety of sugar substitutes is available to the consumer A variety of sugar substitutes is available to the consumer
Video: DNA Sequences - Dideoxy Sequencing

For a complete list of videos, visit our video library