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Author Question: If there are only a few producers of substitutes for Good X, a merger between producers of Good X ... (Read 59 times)

debasdf

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on: Jun 30, 2018
If there are only a few producers of substitutes for Good X, a merger between producers of Good X and any one of them could significantly _____ for Good X.
 a. decrease the elasticity of demand.
  b. increase the elasticity of supply.
  c. decrease the elasticity of supply.
  d. increase the elasticity of demand.

Question 2

Why do the perfectly competitive firms earn only normal profits in the long run?
 a. Entry or exit is barred
  b. Firms produce identical products
  c. A large number of buyers and sellers exist in the market
  d. Aggregate demand remains constant
  e. There is free entry and exit of firms


jxjsniuniu

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Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

e


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debasdf

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Reply #2 on: Jun 30, 2018
Thank you


jxjsniuniu

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Reply #3 on: Jun 30, 2018
No problemo


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