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

Author Question: In the long run, both monopolistic competition and perfect competition result in: a. a wide variety ... (Read 171 times)

panfilo

  • Hero Member
  • *****
  • Posts: 572
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.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Zebsrer

  • Sr. Member
  • ****
  • Posts: 284
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

c


panfilo

  • Hero Member
  • *****
  • Posts: 572
Reply #2 on: Jun 30, 2018
Thank you


Zebsrer

  • Sr. Member
  • ****
  • Posts: 284
Reply #3 on: Jun 30, 2018
No problemo


« previous next »
 

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

A young Lipizzan at the Spanish Riding School in training equipment, wearing saddle, bridle and long A young Lipizzan at the Spanish Riding School in training equipment, wearing saddle, bridle and long
Alexander Fleming photographed in his lab where he observed the natural competition between a fungus Alexander Fleming photographed in his lab where he observed the natural competition between a fungus
How long does it take you to see the circles? How long does it take you to see the circles?
On November 11, 1887, four anarchists were hanged in Chicago on charges that they had thrown a bomb On November 11, 1887, four anarchists were hanged in Chicago on charges that they had thrown a bomb
Human activity has released carbon from sequestration in long-term reservoirs Human activity has released carbon from sequestration in long-term reservoirs
A 23 kg mass is connected to a nail on a frictionless table by a massless string 1.3 m long. ... A 23 kg mass is connected to a nail on a frictionless table by a massless string 1.3 m long. ...
Video: Osmosis - water transport

For a complete list of videos, visit our video library