The marginal revenue curve of a monopolistically competitive firm is
A) downward sloping and above the demand curve.
B) downward sloping and below the demand curve.
C) identical to the demand curve as there are many small firms in the market.
D) perfectly elastic.
Answer: B
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Which of the following is held constant along an indifference curve?
A) the prices of the goods in question B) the total utility derived from consuming any bundle of goods on the indifference curve C) the marginal rate of substitution between the two goods in question D) the marginal utility derived from consuming any bundle of goods on the indifference curve
given the list of assets which is most liquid
a. $500 worth of General Motors common stock b. $500 worth of General Motors bonds c. a $500 traveler's check d. a one-ounce gold coin
Blu-ray players and Blu-ray discs are:
A. complementary goods. B. substitute goods. C. independent goods. D. inferior goods.
The law of demand can be explained as:
A. a lot of people wanting the same thing. B. the higher the price, the smaller the quantity demanded, ceteris paribus. C. people are willing to make limited sacrifices to acquire products. D. legal reasons people make purchases in the marketplace.