Q7. Explain in your own words why the following LRAC curve could only have one producer in a market if market demand were less than 10,000 units. (Imagine if demand were 9,000 units. What would the cost be for a second firm trying to enter the market? Could it compete? What would its costs be in relation to the established firm?) What is the economic term for this type of market?

Suppose that a monopolistically competitive restaurant is currently serving 260 meals per day (the output where mr

In canada, the reference base period for the cpi is 2002. by 2012, prices had risen by 21.6 percent since the base period. the inflation rate in canada in 2013 was 1.1 percent. calculate the cpi in canada in 2013. hint: use the information that “prices had risen by 21.6 percent since the base period” to find the cpi in 2012. use the inflation rate formula (inflation is the growth rate of the cpi) to find cpi in 2013, knowing the cpi in 2012 and the inflation rate. the cpi in canada in 2013 is round up your answer to the first decimal. 122.9 130.7 119.6 110.5

Brenda wants a new car that will be dependable transportation and look good. she wants to satisfy both functional and psychological needs. true or false