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

Author Question: When the marginal cost of a price-taker firm is more than the market price of its product, the firm ... (Read 77 times)

lbcchick

  • Hero Member
  • *****
  • Posts: 550
on: Jun 30, 2018
When the marginal cost of a price-taker firm is more than the market price of its product, the firm should:
 a. expand output.
  b. reduce output.
  c. maintain output.
  d. charge more than the market price.

Question 2

The number of satellite dishes increased by 50 percent when the average monthly price of cable TV increased by 10 percent. Assuming that other factors are held constant, satellite dishes and cable TV are classified as:
 a. complements.
  b. unrelated goods.
  c. substitutes.
  d. social goods.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

lauravaras

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

c


lbcchick

  • Member
  • Posts: 550
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

patma1981

  • Member
  • Posts: 292
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Gently squeeze/milk the arm with twisting motion. With oil or lotion on hands, use gentle but firm ... Gently squeeze/milk the arm with twisting motion. With oil or lotion on hands, use gentle but firm ...
Typical Startup Cost Categories Typical Startup Cost Categories
Hydroelectric power: 2013 Global Market Hydroelectric power: 2013 Global Market
When operating your own business, it is wise to know your cost of capital and that of the ... When operating your own business, it is wise to know your cost of capital and that of the ...
Iraqi market Iraqi market
A cowbird with its foster parent. A female cowbird minimizes her cost of parental care by laying her A cowbird with its foster parent. A female cowbird minimizes her cost of parental care by laying her
Video: Attention Deficit Disorder (ADD)

For a complete list of videos, visit our video library