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Author Question: Refer to Scenario 2.1. What is the equilibrium quantity of books sold? A) 25 B) 50 C) 75 D) ... (Read 29 times)

maychende

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on: Jul 1, 2018
Refer to Scenario 2.1. What is the equilibrium quantity of books sold?
 
  A) 25
  B) 50
  C) 75
  D) 100
  E) none of the above

Question 2

Which of the following is true for both perfect and monopolistic competition?
 
  A) Firms produce a differentiated product.
  B) Firms face a downward sloping demand curve.
  C) Firms produce a homogeneous product.
  D) There is freedom of entry and exit in the long run.


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ecabral0

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

D

Answer to Question 2

D


maychende

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

chereeb

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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