The long-run equilibrium for a monopolistically competitive firm occurs ________
A) at the minimum point of the marginal cost curve
B) at the minimum point of the average cost curve
C) along the downward sloping portion of its average total cost curve
D) along the upward sloping portion of its average total cost curve
C
You might also like to view...
Are markets always in equilibrium?
A. Yes, they are always at the equilibrium point, or very close to it. B. Yes, because few things tend to alter supply and demand. C. No, but if there is no interference, they tend to move toward equilibrium. D. No, they never “settle down” into a stable price and quantity. E. Uncertain, economic theory has no answer to this question.
If a straight line passes through the point x = 8 and y = 4 and also through the point x = 12 and y = 6, the slope of this line is
A) negative one half. B) one half. C) negative 4 divided by 2. D) two.
The Second Bank of the United States
A) was disbanded in 1811 when its charter was not renewed. B) had its charter renewal vetoed in 1832. C) is considered to be the primary cause of the bank panic of 1907. D) None of the above.
The correct chain of causation illustrating the changes caused by monetary policy is
A. money, interest rates, C + I + G + (X ? IM), I. B. money, interest rates, I, C + I + G + (X ? IM). C. C + I + G + (X ? IM), I, interest rates, money. D. I, C + I + G + (X ? IM), money, interest rates.