A firm that has market power A) can charge whatever it wants for its product. B) can charge a ...

Author Question: A firm that has market power A) can charge whatever it wants for its product. B) can charge a ... (Read 58 times)

EY67

Hero Member
Posts: 531

on: Jul 1, 2018

A firm that has market power

A) can charge whatever it wants for its product.
B) can charge a price above marginal cost.
C) has positive economic profits.
D) does not lose sales when increasing price.

Question 2

The rate at which a consumer must give up y to get one more x is equal to

A) -Px/Py.
B) -Py/Px.
C) -MUx/MUy.
D) MUy/MUx.

ciecieme

Sr. Member
Posts: 331

Reply #1 on: Jul 1, 2018

Answer to Question 1

B

Answer to Question 2

A

Need homework help now?

Ask unlimited questions for free

Ask a Question

« previous next »

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.