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Author Question: In the long run, the economic profit of Hoot's Pump Chicken 'n' Ribs, a monopolistic competitor, a. ... (Read 37 times)

olgavictoria

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on: Jun 30, 2018
In the long run, the economic profit of Hoot's Pump Chicken 'n' Ribs, a monopolistic competitor,
 a. is not eliminated because competition is not perfect
  b. is not eliminated because the demand curve slopes downward
  c. is eliminated because of new firms entering the industry
  d. is eliminated because of firms leaving the industry
  e. is not eliminated because new firms cannot enter the industry

Question 2

Under representative democracy,
 a. the median voter's preferences are always satisfied
  b. citizens no longer have any influence since they do not vote on each issue
  c. representatives may reflect the preferences of the median voter
  d. less vote trading will occur than under direct voting
  e. vote trading is impossible


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Edwyer

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

C

Answer to Question 2

C


olgavictoria

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

mjenn52

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  • Posts: 351
Reply 3 on: Yesterday
Great answer, keep it coming :)

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