« previous next »

Author Question: If only two identical firms operate in a market, consumers prefer A) a Cournot equilibrium. B) a ... (Read 104 times)

vinney12

  • Hero Member
  • *****
  • Posts: 586
on: Jul 1, 2018
If only two identical firms operate in a market, consumers prefer
 
  A) a Cournot equilibrium.
  B) a Stackelberg equilibrium.
  C) a collusive equilibrium.
  D) any equilibrium since they all result in the same consumer surplus.

Question 2

If a firm pays its workers 10 per hour, the marginal product of labor is 5 units per hour, and the price of the firm's product is 15 per unit, what is the price elasticity of demand facing the firm?
 
  A) -1.15
  B) -2.15
  C) -1.0
  D) -3.56
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


soda0602

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Comparison of reactions at equilibrium and steady state Comparison of reactions at equilibrium and steady state
A thermostat stuck in the open position caused the engine to operate too cold. The vehicle failed ... A thermostat stuck in the open position caused the engine to operate too cold. The vehicle failed ...
Economic objectives of firms Economic objectives of firms
What would be the appropriate equilibrium temperature of a system obtained by adding 25.0 g of ... What would be the appropriate equilibrium temperature of a system obtained by adding 25.0 g of ...
What will be the pH of the solution once equilibrium is established? What will be the pH of the solution once equilibrium is established?
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
Video: Asthma Treatment

For a complete list of videos, visit our video library