« previous next »

Author Question: The introduction of satellite television systems would cause the Lerner Index for cable television ... (Read 89 times)

wenmo

  • Hero Member
  • *****
  • Posts: 540
on: Jul 1, 2018
The introduction of satellite television systems would cause the Lerner Index for cable television to
 
  A) become smaller.
  B) increase.
  C) change in accordance to the increase in market power of cable TV providers.
  D) be unchanged.

Question 2

Explain why individual firms in competitive markets face more elastic demand curves than the market as a whole.
 
  What will be an ideal response?
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


Tabitha_2016

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

In a competitive market, if an individual firm increases its price it will lose all of its customers, as consumers simply buy from another firm. However, if the price of the good increases for all firms some consumers will not continue to buy the good, but for many prices some consumers will continue to purchase the good.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

Involvement of Magnocellular and Parvocellular Systems in Emotional Perception Involvement of Magnocellular and Parvocellular Systems in Emotional Perception
NCC MERP Index for categorizing medication errors algorithm. NCC MERP Index for categorizing medication errors algorithm.
Comparison of Control by the Nervous and Endocrine Systems Comparison of Control by the Nervous and Endocrine Systems
plant tissue systems plant tissue systems
Political and Economic Systems Political and Economic Systems
Accounting Information Systems, 4th Edition Accounting Information Systems, 4th Edition
Video: Helper T cell receptors, activation, proliferation, differentiation & action

For a complete list of videos, visit our video library