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

Author Question: Under which of the following situations would a seller prefer to incur the cost of improving the ... (Read 20 times)

JMatthes

  • Hero Member
  • *****
  • Posts: 578
on: Jun 30, 2018
Under which of the following situations would a seller prefer to incur the cost of improving the product quality?
 a. If the increase in buyer's valuation for the improved product is higher than the cost of improving it.
  b. If the increase in the seller's opportunity cost of improving the product is higher than the price of the product.
  c. If the product improvement lowers the producer surplus.
  d. If the product improvement allows the seller to a break even.

Question 2

Monopolistic and perfect competition are alike in that:
 a. a firm's long-run equilibrium output is located where long-run average total cost is increasing.
  b. a firm's long-run equilibrium output is located where long-run average total cost is minimized.
  c. firms earn a normal rate of return in the long run.
 d. firms are price takers.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

sierramartinez

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

c


JMatthes

  • Member
  • Posts: 578
Reply 2 on: Jun 30, 2018
Excellent

lcapri7

  • Member
  • Posts: 350
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The FDA recognizes 118 routes of administration.

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Angioplasty. One form is called balloon angioplasty, shown here. A balloon catheter is threaded into Angioplasty. One form is called balloon angioplasty, shown here. A balloon catheter is threaded into
Monopoly, patented in 1935, was an instant best-seller: Players risk all their assets in an attempt Monopoly, patented in 1935, was an instant best-seller: Players risk all their assets in an attempt
Coding for Special Situations Cont Coding for Special Situations Cont
L-carnitine is a popular dietary supplement. Notice the claims of improving athletic performance and ... L-carnitine is a popular dietary supplement. Notice the claims of improving athletic performance and ...
Cost of Copying for the Follower Country Cost of Copying for the Follower Country
When operating your own business, it is wise to know your cost of capital and that of the ... When operating your own business, it is wise to know your cost of capital and that of the ...
Video: Body plan of euglena Animation

For a complete list of videos, visit our video library