« previous next »

Author Question: Monopolistic competition is inefficient because: a. firms earn positive economic profits. b. the ... (Read 88 times)

Davideckstein7

  • Hero Member
  • *****
  • Posts: 555
on: Jun 30, 2018
Monopolistic competition is inefficient because:
 a. firms earn positive economic profits.
  b. the firms' marginal costs and marginal revenues are not equal.
  c. firms have excess capacity in the long run.
  d. entry is difficult.

Question 2

At the unique point of consumer equilibrium, the:
 a. distance between indifference curves is maximum.
  b. distance between the budget line and the indifference curve is maximum.
  c. marginal utility ratio of the two goods is equal.
  d. marginal rate of substitution (MRS) equals the slope of the budget line.


nekcihc358

  • Sr. Member
  • ****
  • Posts: 327
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

d


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Economic and Social Development Economic and Social Development
Demographic change and the effect on people social, and economic life Demographic change and the effect on people social, and economic life
economic question economic question
economic question economic question
economic question economic question
economic question economic question
Video: Brain Lobes Animation

For a complete list of videos, visit our video library