Demand and marginal revenue curves are downward-sloping for monopolistically competition firms because: a. product differentiation allows each firm some degree of monopoly power.
<h3>What is product differentiation?</h3>
Product differentiation can be defined as what makes a product to different from another product which is why some producer tend to include a unique features in their so as to make their product distinct from that of others.
A monopolistic competitive firms can tend to face a downward - sloping demand curve based on the fact that it help to differentiate their product from that of others competitors.
Therefore the correct option is A.
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The complete question is:
Demand and marginal revenue curves are downward-sloping for monopolistically competition firms because...
a)product differentiation allows each firm some degree of monopoly power
b)there are a few large firms in the industry and they each act as a monopolist
c)mutual interdependence among all firms in the industry leads to collusion
d)each firm has to take the market price as given
Answer:
The answer is: $2,250
Explanation:
The American Opportunity Tax Credit (AOTC) is a tax credit available for students that are enrolled at a qualified educational institution. The maximum annual credit is $2,250 per student, and it can be used during the first four years of higher education.
Current output Y = AK^(alfal)L^(1- alfa)
Here A = 100
K= 50,000
L = 100
a ( Alfa) =o.33
Y= 100*(50,000)^0.33*(100)^0.66= 5642.296
Calculus. The analysis is the most common type of mathematics in economics. Calculus uses a variety of formulas to measure limits, functions, and derivatives. Many economists use calculus in measuring economic information.
Mathematics and Economics are complementary fields. Most areas of modern economics make extensive use of mathematics and statistics, and several important areas of mathematical research have been motivated by economic problems.
No. Economics Mathematics is not difficult. Economics is not a particularly difficult undergraduate subject. ...but the most prepared economics majors choose to take mathematics courses at roughly the same level as mathematics majors, and many even choose to double major.
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