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Author Question: A monopolistically competitive firm has the free entry characteristics of ________ and the price ... (Read 36 times)

CORALGRILL2014

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on: Jul 1, 2018
A monopolistically competitive firm has the free entry characteristics of ________ and the price setting characteristics of ________.
 
  A) an oligopolistic market; perfect competition
  B) perfect competition; a monopoly
  C) a monopolistic market; a cartel
  D) perfect competition; perfect competition

Question 2

At Joey's Lawncutting Service, the production function is represented as: q = min(m, l), where q is the quantity of lawns mowed. The inputs are m, the lawn mower, and l, the laborer.
 
  Which graph in the above figure best represents the isoquants for Joey's Lawncutting Service when Capital per day is on the vertical axis and Labor per day is on the horizontal axis? A) Graph A
  B) Graph B
  C) Graph C
  D) Graph D


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14vl19

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

B

Answer to Question 2

A


CORALGRILL2014

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

epscape

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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