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Author Question: A monopoly is: a. a seller of a highly advertised and differentiated product in a market with low ... (Read 35 times)

craiczarry

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on: Jun 30, 2018
A monopoly is:
 a. a seller of a highly advertised and differentiated product in a market with low barriers to entry in the long run.
  b. the only seller of a good for which there are no good substitutes in a market with high barriers to entry.
  c. the only buyer of a unique raw material.
  d. the producer of a product subsidized by the government.

Question 2

Marginal utility will generally decrease when:
 a. more of a particular good is consumed.
  b. less of a particular good is consumed.
  c. average utility is the least.
  d. per capita utility is the least.
  e. the TU curve's slope is positive rather than negative.


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jaykayy05

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

b

Answer to Question 2

a


craiczarry

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

nyrave

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Reply 3 on: Yesterday
Gracias!

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