Firms in a monopolistically competitive market will
A. Produce efficiently.
B. Make economic profits in the long run.
C. Produce at the minimum of ATC.
D. Use the profit-maximizing rule MC = MR.
Answer: D
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If the opportunity cost of working outside the home decreases then it is likely that ________, assuming all else equal
A) there will be a rightward shift in the labor supply curve B) there will be an upward movement along the labor supply curve C) there will be a downward movement along the labor supply curve D) there will be a leftward shift in the labor supply curve
The first important federal law passed to regulate monopolies in the United States was the
A) Sherman Act. B) Cellar-Kefauver Act. C) Federal Trade Commission Act. D) Clayton Act.
OSHA has improved worker safety
Indicate whether the statement is true or false
A decrease in business taxes will tend to:
A. increase aggregate demand and increase aggregate supply. B. increase aggregate supply but not change aggregate demand. C. increase aggregate demand but not change aggregate supply. D. decrease aggregate supply and decrease aggregate demand.