Eileen’s utility from renting the movies online and from watching the first-run movies in a theatre. Concept Introduction: Marginal Utility : It is the net addition to the total utility when an additional unit of good is being consumed. MU = TU n − TU n − 1 Law of Diminishing Marginal Utility: The law states that as we consume more and more of a unit, the successive utility from consuming additional units goes on falling. In other words, the marginal utility goes on falling as we consume more of a good.

Question

Which of the following is true about the concept of concentration? Group of answer choices The lower the degree of rivalry amongst the firms, the higher the concentration. The lower the number of firms in a market, the lower the concentration. All of the answers are correct. The higher the degree of rivalry amongst the firms, the lower the concentration

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Chapter 6, Problem 2.4P

To determine

Eileen’s utility from renting the movies online and from watching the first-run movies in a theatre.

Concept Introduction: Marginal Utility: It is the net addition to the total utility when an additional unit of good is being consumed.

MU=TUn−TUn−1

Law of Diminishing Marginal Utility: The law states that as we consume more and more of a unit, the successive utility from consuming additional units goes on falling. In other words, the marginal utility goes on falling as we consume more of a good.

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Which of the following is true about the concept of concentration? Group of answer choices The lower the degree of rivalry amongst the firms, the higher the concentration. The lower the number of firms in a market, the lower the concentration. All of the answers are correct. The higher the degree of rivalry amongst the firms, the lower the concentration

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