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Author Question: In the long run, both monopolistic competition and perfect competition result in: a. a wide variety ... (Read 182 times)

panfilo

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on: Jun 30, 2018
In the long run, both monopolistic competition and perfect competition result in:
 a. a wide variety of brand-name choices for consumers.
  b. an efficient allocation of resources.
  c. zero economic profit for firms.
  d. excess capacity.

Question 2

Assume the price of good Y with its quantity measured on the vertical axis is 20 and the price of good X with its quantity measured on the horizontal axis is 5 . If the consumer's budget is 100, then the absolute value of the slope of the budget line is:
 a. 100.
  b. 20.
  c. 1/4.
  d. 4.


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Zebsrer

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

c

Answer to Question 2

c


panfilo

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Reply #2 on: Jun 30, 2018
Thank you


Zebsrer

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Reply #3 on: Jun 30, 2018
No problemo


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