In the long run, a profit-maximizing firm in a monopolistically competitive market operates at
a. efficient scale.
b. a level of output at which average total cost is rising.
c. a level of output at which average total cost is falling.
d. the level of output at which total revenue is maximized.
c
You might also like to view...
The figure above shows a perfectly competitive firm. The firm is operating; that is, the firm has not shut down. The firm is
A) making an economic profit of $200. B) incurring a economic loss of $200. C) incurring an economic loss of $600. D) making zero economic profit.
An increase in government spending will result in an increase in the price level and an increase in real GDP in the long run
Indicate whether the statement is true or false
If other factors remain? unchanged, technological progress in producing good A definitely will lead to
A) an increase in the market clearing price of good A and a decrease in the equilibrium quantity of good A.
B) an increase in both the market clearing price and the equilibrium quantity of good A.
C) a decrease in the market clearing price of good A and an increase in the equilibrium quantity of good A.
D) a decrease in both the market clearing price and the equilibrium quantity of good A.
The Bureau of Labor Statistics would categorize a person as ________ if they were temporarily away from their job because they were ill
A) employed B) out of the labor force C) unemployed D) a discouraged worker