« previous next »

Author Question: A market with few entry barriers and with many firms that sell differentiated products is A) ... (Read 46 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?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

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.

All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co
Nurses should teach lactating women to avoid all drugs, herbal products, or dietary supplements ... Nurses should teach lactating women to avoid all drugs, herbal products, or dietary supplements ...
Natural Products Used as Antineoplastic Therapy Natural Products Used as Antineoplastic Therapy
The Emergency Action Guide entry for styrene. Useful information includes emergency response ... The Emergency Action Guide entry for styrene. Useful information includes emergency response ...
Where’s the Saturated Fat in Your Foods? Saturated fat is found in animal products, tropical oils Where’s the Saturated Fat in Your Foods? Saturated fat is found in animal products, tropical oils
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ... Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ...
Video: Vascular tissues in a corn stem and a buttercup root

For a complete list of videos, visit our video library