In what way is monopolistic competition less beneficial to the welfare of society in the long run?
a. The firm can earn an economic profit
b. The firm does not produce where marginal revenue is equal to marginal cost.
c. The firm does not produce where average total cost is minimized
d. The firm does not shut down if the price is less than average variable cost.
c
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The decrease in the value of the dollar relative to the Japanese yen
A. increased the yen price paid and decreased the dollar price received from U.S. goods exported to Japan. B. decreased both the yen price paid and the dollar price received from U.S. goods exported to Japan. C. increased both the yen price paid and the dollar price received from U.S. goods exported to Japan. D. decreased the yen price paid and increased the dollar price received from U.S. goods exported to Japan.
What are the characteristics of monopolistic competition?
What is investment in human capital?
The basic coordinating mechanism in a free-market system is
A. quantity. B. a central government authority. C. price. D. the corporation.