For a monopolistic competitor:
A. P = MC in long-run equilibrium.
B. P = MR in long-run equilibrium.
C. P > ATC in long-run equilibrium.
D. P = ATC in long-run equilibrium.
Answer: D
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Suppose that Venezuela experiences significant capital outflows after a recent election. If the nation had fixed exchange rates, these flows would have had the following effect on the financial account and monetary base
a. Financial account would rise and monetary base would fall. b. Financial account would not change and monetary base would fall. c. Financial account would fall and monetary base would not change. d. Financial account would fall and monetary base would fall. e. Financial account would fall and monetary base would rise.
Unemployment insurance schemes mainly increase:
A. frictional unemployment. B. seasonal unemployment. C. teenage unemployment. D. cyclical unemployment.
What are substitute goods, and how does a change in the price of one substitute good influence the demand for the other?
What will be an ideal response?
From 1970 to the mid-1990s, the relative price of crude petroleum
A) steadily increased. B) steadily decreased. C) increased dramatically, then decreased dramatically. D) decreased dramatically, then increased dramatically. E) remained more or less the same.