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Author Question: Consider two upward sloping income-utility curves with income on the horizontal axis. The steeper ... (Read 22 times)

vinney12

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on: Jul 1, 2018
Consider two upward sloping income-utility curves with income on the horizontal axis. The steeper curve represents risk preferences that are more:
 
  A) risk averse.
  B) risk loving.
  C) loss averting.
  D) We cannot answer this question without more information about the shapes of the curves.

Question 2

Although firms earn zero profits in the long run, why is the outcome from monopolistic competition considered to be inefficient?
 
  A) Price exceeds marginal cost.
  B) Quantity is lower than the perfectly competitive outcome.
  C) Goods are not identical.
  D) A and B are correct.
  E) B and C are correct.


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rosiehomeworddo

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Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

D


vinney12

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Reply #2 on: Jul 1, 2018
Correct answers!


rosiehomeworddo

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Reply #3 on: Jul 1, 2018
Great! Please up vote :D


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