To maximize profit, a ________ firm will produce where marginal revenue equals marginal cost.
A. perfectly competitive
B. monopolistically competitive
C. monopolistic
D. All of the above are correct.
Answer: D
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In perfect competition, when market demand decreases, explain how the price of the good and the output and profit of each firm changes in the short run
What will be an ideal response?
What is a Nash equilibrium? How is it different from a dominant strategy
Sticky wages cause the:
A. short-run aggregate supply curve to slope upward. B. long-run aggregate supply curve to slope upward. C. short-run aggregate supply curve to slope downward. D. long-run aggregate supply curve to slope downward.
When the Fed reduces the money supply, it will cause a decrease in aggregate demand because:
A. real rates will rise, lowering business investment and consumer spending. B. the dollar will depreciate on the foreign exchange market, leading to an increase in net exports. C. lower interest rates will cause the value of assets (for example, stocks) to rise. D. the national debt will increase, causing consumers to reduce their spending.