In the long run the monopolistic competitor always charges a price that is
A. equal to the minimum point of its ATC curve.
B. below the minimum point of its ATC curve.
C. above the minimum point of its ATC curve.
C. above the minimum point of its ATC curve.
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In 2016, interest payments on the national debt accounted for almost _____ of federal outlays
a. 7 percent b. 25 percent c. 14 percent d. 52 percent e. 40 percent
If at the profit-maximizing level of output, a typical perfectly competitive firm's price is greater than its average total cost, the firm should increase output
a. True b. False Indicate whether the statement is true or false
Under rate of return regulation,
A. P = AVC. B. P = MC. C. P > ATC. D. P = ATC.
Refer to the accompanying figure. Suppose all the sellers in this market started out charging a price of $45 per unit. What is the most likely result?
A. They would lower their prices because at $45 there would be excess demand. B. They would all make a large profit because $45 is more than the equilibrium price. C. They would lower their prices because at $45 there would be excess supply. D. They would all just break even because $45 is their reservation price.