A monopolistically competitive firm will end up selling its output for a price such that its
A) price is greater than marginal cost.
B) price is equal to marginal cost.
C) price is equal to marginal revenue.
D) price is equal to average total cost.
A
You might also like to view...
If a 5 percent increase in the price of good A leads to a 4 percent decrease in the demand for good B, then ________
A) the goods are substitutes B) only one good is a normal good C) the goods are complements D) both goods are normal goods
The United States is one of the most marketized economies in the world
a. True b. False Indicate whether the statement is true or false
A change in consumers' incomes causes a change in:
A. the demand for normal goods but not the demand for inferior goods. B. demand. C. the cross-price elasticity of demand. D. supply.
If the stock of capital of a nation is ________ while the population ________, the nation can produce more output, but output per worker falls.
A. fixed; decreases B. declining; decreases C. fixed; increases D. fixed; remains stable