Which of the following conditions is characteristic of a monopolistically competitive firm in short-run equilibrium?
a. P = AR
b. MR = MC
c. P > MC
d. All of the above are correct.
d
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The supply of loanable funds is from
A) firms and the government if it has a budget deficit. B) households and the government if it has a budget deficit. C) firms and the government if it has a budget surplus. D) households and the government if it has a budget surplus. E) households and firms.
In July 2010, what was the total value of U.S. currency in circulation?
A) $500 million B) $150 billion C) $1080 billion D) $6 trillion
If a university charged a lower price for tuition during summer school than during the regular session, in search of added total revenue,
a. administrators likely believe that demand is more elastic during summer school than during the regular session. b. administrators likely believe that demand is less elastic during summer school than during the regular session. c. it indicates nothing about likely differences in the elasticity of demand during summer school than during the regular session. d. administrators likely believe that demand is both lower and less elastic during summer school than during the regular session.
Which period of recent U.S. history shows the lowest rates of productivity growth?
a. 1948-1973 b. 1973-1995 c. 1995-2000 d. All periods had similar growth rates.