« previous next »

Author Question: Suppose your firm operates in a perfectly competitive market and decides to double its output. How ... (Read 168 times)

renzo156

  • Hero Member
  • *****
  • Posts: 526
on: Jul 1, 2018
Suppose your firm operates in a perfectly competitive market and decides to double its output. How does this affect the firm's marginal profit?
 
  A) Marginal revenue and marginal cost increase
  B) Marginal revenue increases but marginal cost remains the same
  C) Marginal cost may change but marginal revenue remains the same
  D) Marginal revenue and marginal cost decrease

Question 2

A consumer or producer who does not pay for use of a nonexclusive good but expects others to pay is known as a:
 
  A) free rider.
  B) price setter.
  C) fringe element.
  D) none of the above


lolol

  • Sr. Member
  • ****
  • Posts: 330
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?

Disorders that may affect pharmacodynamics include genetic mutations, malnutrition, thyrotoxicosis, myasthenia gravis, Parkinson's disease, and certain forms of insulin-resistant diabetes mellitus.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

The medical assistant is measuring the urine output from a patient who has an indwelling Foley ... The medical assistant is measuring the urine output from a patient who has an indwelling Foley ...
A typical output driver. In this case, the PCM applies voltage to the fuel pump relay coil to ... A typical output driver. In this case, the PCM applies voltage to the fuel pump relay coil to ...
Diagram of a cell membrane. The cell membrane is a double layer of phospholipid molecules with ... Diagram of a cell membrane. The cell membrane is a double layer of phospholipid molecules with ...
Hydroelectric power: 2013 Global Market Hydroelectric power: 2013 Global Market
Role of Factors of Production in Determining Output per Worker, 2009 Role of Factors of Production in Determining Output per Worker, 2009
A 2.8-kg tool can move on a perfectly smooth ramp that slants at 42° above the horizontal. ... A 2.8-kg tool can move on a perfectly smooth ramp that slants at 42° above the horizontal. ...
Video: What are Strong & Weak Acids and How they're different?

For a complete list of videos, visit our video library