Monopolistic competitive firms are productively inefficient because production occurs where:
A. Price is greater than marginal revenue
B. Marginal cost is less than price
C. Marginal cost is not at its lowest
D. Average total cost is not at its lowest
D. Average total cost is not at its lowest
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The higher the exchange rate today, the
A) smaller is the expected profit from buying U.S. dollars today and holding them. B) greater is the expected profit from buying U.S. dollars today and holding them. C) smaller is the expected profit from buying foreign currency today and holding it. D) greater the quantity of U.S. dollars demanded in the foreign exchange market today.
For corporate taxes, the lowest tax bracket is
A. 9 percent. B. 12 percent. C. 15 percent. D. 22 percent.
An oligopoly is a market structure in which:
a. one firm has 100 percent of a market. b. there are many small firms. c. there are many firms with no control over price. d. there are few firms selling either a homogeneous or differentiated product.
For the quantity exchanged in a market to remain the same, while the price increased, both supply and demand would have to shift to the right
a. True b. False Indicate whether the statement is true or false