1.As product differentiation decreases, ________ increases. markup demand inelasticity marginal cost excess capacity
1.As product differentiation decreases, ________ increases.
| markup |
| demand inelasticity |
| marginal cost |
| excess capacity |
Homework Answers
1. Correct option: Demand inelasticity
Reason: A decrease in product differentiation will leave consumers with less options to chose from. This will reduce their elasticity of demand for goods and make the demand inelastic in nature as the market for that good becomes narrower.
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1.As product differentiation decreases, ________ increases.
markup
demand inelasticity
marginal cost
excess capacity
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2. What is this firm's excess capacity?
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1. What is the markup for this firm? $_______
2. What is this firm's excess capacity?
A) As price increases, demand increases. B) As price increases, demand decreases. C) As demand increases, profit decreases. D) As price decreases, demand decreases. 2. One way a company can perform "what if budget analysis is by preparing a flexible bu A) True B) False 3. Budgeting often involves both monetary and nonmonetary measures of performance. A) True B) False 4. Which of the following budgets is prepared first? A) Cash budget B) Production budget C) Budgeted balance sheet D)...
The following formula shows that the firm’s “markup” over
marginal cost depends inversely on the elasticity of market demand,
which is called "Lerner Index". Prove this formula step by step
from a monopoly's profit-maximization problem.
The following formula shows that the firm's “markup” over marginal cost depends inversely on the elasticity of market demand, which is called "Lerner Index". Prove this formula step by step from a monopoly's profit-maximization problem. Pm – MC 1 1 Pm CDP
Please help with these questions
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