« previous next »

Author Question: A market with few entry barriers and with many firms that sell differentiated products is A) ... (Read 95 times)

burton19126

  • Hero Member
  • *****
  • Posts: 532
on: Jul 1, 2018
A market with few entry barriers and with many firms that sell differentiated products is
 
  A) purely competitive.
  B) a monopoly.
  C) monopolistically competitive.
  D) oligopolistic.

Question 2

From Equation (7.1 ) in the book, the short-run marginal cost of production is MC = w/MPL. Based on this equation, which of the following statements is NOT true?
 
  A) If the marginal product of labor is constant, then MC is constant.
  B) If the marginal product of labor is a concave curve, then the MC curve is also concave.
  C) If the marginal product of labor is a concave curve, then the MC curve is U-shaped.
  D) MC increases as the marginal product of labor declines.


prumorgan

  • Sr. Member
  • ****
  • Posts: 326
Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

The WISER entry for hydrogen cyanide (bottom). Useful information includes detailed health ... The WISER entry for hydrogen cyanide (bottom). Useful information includes detailed health ...
Forest products and the economic value Forest products and the economic value
Marginal Products of Physical and Human Capital Marginal Products of Physical and Human Capital
Time-of-entry mapping Time-of-entry mapping
Acid products of metabolism of ethylene glycol and methanol Acid products of metabolism of ethylene glycol and methanol
Type of entry grade 1 Type of entry grade 1
Video: Simple Diffusion - Ion transport

For a complete list of videos, visit our video library