« previous next »

Author Question: Refer to the scenario above. If the number of bidders increases to 65, Molly's optimal bid for the ... (Read 81 times)

awywial

  • Hero Member
  • *****
  • Posts: 577
on: Jun 29, 2018
Refer to the scenario above. If the number of bidders increases to 65, Molly's optimal bid for the product would be ________, and her consumer surplus would be ________.
 
  A) 836.92; 13.08
  B) 831.11; 18.89
  C) 765.5; 25
  D) 750; 28.5

Question 2

As the number of firms in an oligopolistic market increases, ________.
 
  A) prices tend to decline toward marginal cost
  B) prices tend to rise above marginal cost
  C) the market demand for the good tends to fall
  D) profits earned by firms tend to rise


TINA

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

Complications of influenza include: bacterial pneumonia, ear and sinus infections, dehydration, and worsening of chronic conditions such as asthma, congestive heart failure, or diabetes.

Species richness increases with island size. Species richness increases with island size.
When the number of miles traveled is considered, drivers under 25 years of age and those over 70 are ... When the number of miles traveled is considered, drivers under 25 years of age and those over 70 are ...
Spirituality increases with age, but there are different patterns for the two genders. Both genders ... Spirituality increases with age, but there are different patterns for the two genders. Both genders ...
The areas in which reading-associated increases in activity were observed in the fMRI study of ... The areas in which reading-associated increases in activity were observed in the fMRI study of ...
Dose-response relationship. As the dose of a drug increases, a maximal response or plateau is ... Dose-response relationship. As the dose of a drug increases, a maximal response or plateau is ...
Prove the argument using two column proof number 5 only Prove the argument using two column proof number 5 only
Video: Spermatogenesis Animation

For a complete list of videos, visit our video library