Question 1
A monopolistically competitive firm
◦ can sell an infinite amount of output at the market-determined price.
◦ must lower price to sell more output.
◦ must raise price to sell more output.
◦ sells a fixed amount of output regardless of price.
Question 2
The Do It Yourself Hardware Store is a monopolistically competitive firm. Its marginal revenue curve
◦ is identical to its demand curve.
◦ lies below its demand curve intersecting the quantity axis at the same point at which the demand curve intersects it.
◦ lies below its demand curve intersecting the quantity axis midway between the origin and the point at which the demand curve intersects it.
◦ is below its demand curve if demand is elastic and above the demand curve if demand is inelastic.
competitive inhibition
The titration curve of the buffer acetic acid (CH3COOH)
A Dose-Response Curve
Marginal Supply - Demand Curve
Linear dose-response curve
Marginal Products of Physical and Human Capital