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

Author Question: A sudden fall in the market demand in a competitive industry leads to a. A short run market ... (Read 67 times)

mynx

  • Hero Member
  • *****
  • Posts: 555
on: Jul 1, 2018
A sudden fall in the market demand in a competitive industry leads to
 a. A short run market equilibrium price higher than the original equilibrium
  b. A market equilibrium price higher than the short run price
 c. New firms entering the market
 d. All of the above

Question 2

Anna's Antiques expects to get two bidders for the unique china teacup it sells. Each of the bidders can either have a high-value of 100 or a low-value of 70 with equal probability. If Anna holds an auction between the two bidders, and both the bidders have low values, she would earn ___ from the auction.
 a. Just above 100
  b. 100
 c. Just above 70
 d. 70


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Liddy

  • Sr. Member
  • ****
  • Posts: 342
Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

d


mynx

  • Member
  • Posts: 555
Reply 2 on: Jul 1, 2018
Gracias!

alvinum

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

bio industry bio industry
Fall Fall
Nanomaterials Applications and Industry Used Nanomaterials Applications and Industry Used
A demand delivery system uses a fuel-pressure regulator attached to the fuel pump assembly inside ... A demand delivery system uses a fuel-pressure regulator attached to the fuel pump assembly inside ...
Kyoto Protocol encourages industry to innovate and reduce the level of emissions Kyoto Protocol encourages industry to innovate and reduce the level of emissions
The demand for cheap coal to generate electrical power is rising The demand for cheap coal to generate electrical power is rising
Video: Buffers definition and the role of buffer in the body

For a complete list of videos, visit our video library