In the long-run, a firm in monopolistic competition produces at an output level where
A) P > ATC and MR = MC.
B) P > ATC and MR > MC.
C) P = ATC and MR = MC.
D) P = ATC and MR > MC.
E) P = ATC and MC = ATC.
C
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The HPAE (High Performance Asian Economies) countries
A) have all consistently supported free trade policies. B) have all consistently maintained import-substitution policies. C) have all consistently maintained non-biased efficient free capital markets. D) have all maintained openness to international trade. E) have all outperformed the U.S.
A firm should keep producing output as long as the marginal profit is greater than zero, no matter how small it is
a. True b. False Indicate whether the statement is true or false
Figure 5.3 presents a firm's marginal cost, average total cost, and average variable cost curves. The firm minimizes average total costs by producing ________ units.
A. 50 B. 100 C. 150 D. 200
What is meant by human capital and how can it be used to promote economic growth?
Please provide the best answer for the statement.