Refer to Scenario 10.3. Compared to a competitive red herring ...

[frankwu]

Refer to Scenario 10.3. Compared to a competitive red herring industry, the monopolistic red herring industry
 
  A) produces more output at a higher price.
  B) produces less output at a higher price.
  C) produces more output at a lower price.
  D) produces less output at a lower price.
  E) not enough information to relate the monopolistic red herring industry to a competitive industry.

Question 2

Individual families exhibit remarkable year-to-year stability in income.
 
  Indicate whether the statement is true or false

[mbcrismon]

Answer to Question 1

B

Answer to Question 2

F

[frankwu]

Excellent

[bigcheese9]

TYSM