<p>In a monopolistic competition, do the companies face a downward-sloping demand curve and thus the slope of MR is 1/2 of that of Demand?</p>
<p>yes.</p>
<p>but i have never heard that MR is 1/2</p>
<p>^same
10char</p>
<p>Do oligopolies, monopolies, and monopolistic competition all have that negative sloped MR?</p>
<p>Yes.</p>
<p>Law of Decreasing Marginal Returns</p>
<p>Monopolies have a slope that is negative, twice that of demand.<br>
I believe oligopolies, monopolies, and monopolistic competition all do have a negatively sloped MR because as you make more product, you must spend more, and as such, your MR is going to continue decreasing. EDIT: Otherwise known as the Law of Diminishing Marginal Returns ^ Spot on!! thanks :)</p>
<p>yess… but something you should know about those is that they are not alocative efficient and experience deadweight loss because the P>MC.</p>
<p>in perfectly comp. P=MC=MR=AR</p>
<p>btw… anyone got any released MC exams from at least 2002-present?</p>
<p>^looking for some too :(</p>
<p>The MR is half-way btwn the downward sloping D curve and the y-axis bc if monopoly decreases the P of one good has to decrease P of alllll goods sold. So say it sells the 3rd good for $8 when it was previously selling the 1st and 2nd good for $10. The MR would not be $8. MR would equal $4 because lost $2 of revenue on 1st and 2nd good. So therefore P>MR in a monopoly market. </p>
<p>Pretty sure that’s right but please correct if not :)</p>
<p>yea i found one… but supposedly CC doesnt want us to sshare anything… but i say who cares… we are using resources to help us gain and strengthen our own knowledge.</p>
<p>prbly 90% of the ppl on CC forums are going to be doctors, lawyers, CEOs, engineers, etc…
basically the profound leaders of the world.</p>
<p>why is CC trying to deprive us of information that was prbly stolen in the first place?</p>
<p>
Could someone explain it in a bit more detail? </p>
<p>^That’s why they create a thing call PM.</p>
<p><em>eagerly anticipating test</em> I concur!! Pretty please do share 
I do not have anything to trade though…exact can send FRQs that are in my prep books haha but that’s about it…</p>
<p>thatguyinclass, could you please send it to me (Unless it’s the 2008 practice test or w/e)?! I’ve been looking for hours and can’t find ANYTHING!</p>
<p>i dont understand how ANYONE, esp. on this forum can worry about this test.</p>
<p>its more common sense than anything!.. lol… but i have slacked throughout the entire 2nd smeseter and am just reading 5 steps right now… but i would still really like some practice tests.</p>
<p>BTW… yea… my microecon is the 2008</p>
<p>Still interested :)!!! And bc I think lots of ppl self-study them…I am</p>
<p>oo ok… lol… i never have self-studied so i wouldnt know… still its prtty str8forward stuff…</p>
<p>if someone wants the 08 just message me…</p>
<p>I personally think that this test is relatively difficult. The free response questions are not that difficult, but some of the MC questions can be quite difficult. I’ve done exceptionally well in some econ competitions (econ challenge, FBLA, etc.) and I’m still having a bit of trouble (getting a 4 is simple haha but a 5 for me on macro is not getting there - got a 76/90 on micro last practice test and 60/90 on macro (??:())</p>
<p>Yes Micro is easy.
Macro is so hard though!!</p>
<p>I’m usually a whiz with economics, business, and the like, but I find that just the way a lot of questions are worded makes this test a bit harder than anticipated.</p>
<p>Another micro question:
How is zero economic profit represented on the graph? Is it an intersection of two curves? If so, which two curves?</p>