Is a monopolistically competitive firm productively efficient?
A) Yes, because it produces where marginal cost equals marginal revenue.
B) No, because price is greater than marginal cost.
C) No, because it does not produce at minimum average total cost.
D) Yes, because price equals average total cost.
C
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Would a union of all the restaurant workers in your area be more or less successful at winning wage increases without suffering employment losses than a union of all the pizzeria workers in your area? Explain
Suppose a bank has $3 million in excess reserves and total reserves of $10 million. A required reserve ratio of 10% is applicable to all deposits at the bank. What is the total amount of deposits at the bank?
a. $70 million b. $300 million c. $40 million d. $10 million e. $30 million
Collective bargaining
A. is illegal in the U.S. B. is solely a test of power. C. takes place only after a strike is settled. D. is the main arena in the power struggle between labor and management.
If the price elasticity of demand is 2, this means that a ________ increase in price causes a ________ decrease in quantity demanded.
A. 15%; 100% B. 15%; 10% C. 20%; 40% D. 30%; 20%