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Author Question: If cheese spreads and butter are substitutes, an increase in the price of butter will: a. shift the ... (Read 82 times)

aabwk4

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on: Jun 30, 2018
If cheese spreads and butter are substitutes, an increase in the price of butter will:
 a. shift the demand curve for cheese spreads upward.
  b. shift the demand curve for cheese spreads downward.
  c. shift the demand curve for butter upwards.
  d. shift the demand curve for butter downward.

Question 2

Under perfect competition, at the profit-maximizing level of output:
 a. price is greater than marginal revenue.
  b. price is equal to marginal revenue.
  c. marginal revenue is equal to zero.
  d. the marginal revenue curve is upward sloping.
  e. the average revenue curve is upward sloping.


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vkodali

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

A

Answer to Question 2

b


aabwk4

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

carlsona147

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Reply 3 on: Yesterday
Wow, this really help

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