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Author Question: A consumer has 40 that he wants to spend. He is faced with four options: a camera that costs 60, a ... (Read 12 times)

nevelica

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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?


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izzat

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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

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

scottmt

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Reply 3 on: Yesterday
Excellent

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