« previous next »

Author Question: Compared to a monopolistic competitor, a monopoly producer who was currently earning economic ... (Read 27 times)

dollx

  • Hero Member
  • *****
  • Posts: 558
on: Jun 30, 2018
Compared to a monopolistic competitor, a monopoly producer who was currently earning economic profits:
 a. would face a more elastic demand curve.
 b. would face a less elastic demand curve.
 c. could continue to earn economic profits for a longer period of time.
  d. would be characterized by both (b) and (c).

Question 2

According to economists, an individual who tries to derive utility from the consumption of a good without paying for it is called:
 a. a utility maximizer.
  b. a free rider.
  c. an opportunist.
  d. a profit maximizer.


amandalm

  • Sr. Member
  • ****
  • Posts: 306
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

dollx

  • Hero Member
  • *****
  • Posts: 558
Reply #2 on: Jun 30, 2018
Thank you :)


amandalm

  • Sr. Member
  • ****
  • Posts: 306
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Compared to a chimpanzee, the human newborn has relatively little room to spare as it passes through Compared to a chimpanzee, the human newborn has relatively little room to spare as it passes through
Major Findings of the High Scope Preschool Study High Scope participants showed better academic per Major Findings of the High Scope Preschool Study High Scope participants showed better academic per
Lucy’s Body Weight Proportions Compared to a Bonobo Lucy’s Body Weight Proportions Compared to a Bonobo
economic question economic question
economic question economic question
economic question economic question
Video: Photosynthesis overview Animation

For a complete list of videos, visit our video library