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Author Question: We say that equilibrium in a perfectly competitive market is allocatively efficient because a. the ... (Read 41 times)

sabina

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on: Jun 30, 2018
We say that equilibrium in a perfectly competitive market is allocatively efficient because
 a. the sum of consumer and producer surplus is maximized
  b. the sum of consumer and producer surplus is minimized
  c. the sum of consumer and producer surplus is zero
  d. consumer surplus is maximized
  e. producer surplus is zero

Question 2

Monopolistically competitive industries consist of
 a. one firm selling several products
  b. one firm selling one product
  c. many firms, all selling identical products
  d. many firms, each selling a slightly different product
  e. many firms, each selling a completely different product


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Joc

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

A

Answer to Question 2

D


sabina

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

emsimon14

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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