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Author Question: The demand curve facing a firm will be more elastic, a. the fewer the number of competing firms b. ... (Read 20 times)

JMatthes

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on: Jun 30, 2018
The demand curve facing a firm will be more elastic,
 a. the fewer the number of competing firms
  b. the more differentiated the product
  c. the more substitutes there are for its product
  d. the greater the firm's ability to control price
  e. the larger the profit the firm can make

Question 2

Firm size alone is not the same as market power, as illustrated by
 a. a large automaker raising its prices without concern about competition
  b. a movie theater in an isolated community facing stiff competition
  c. wheat farmers selling their commodity product to farm cooperatives
  d. the only newspaper in a metropolitan area facing competition for advertising sales from TV, radio, and the Internet
  e. None of the answers is correct


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bobsmith

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

C

Answer to Question 2

D


JMatthes

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

amcvicar

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Reply 3 on: Yesterday
Excellent

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