A monopolistically competitive firm maximizes profit where
A. MR > MC.
B. P = MC.
C. MC > MR.
D. MR = MC.
Answer: D
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A) maximum; $2.50 B) minimum; $3.00 C) maximum; $4.00 D) minimum; $2.50
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A) held to; ease B) held to; difficulty C) sold before; ease D) sold before; difficulty
A company may borrow money from
A. banks. B. insurance companies. C. other firms. D. All of these responses are correct.
Rising prices help control the process of resource depletion by
A. encouraging consumption and waste. B. stimulating more efficient use of the depletable resource. C. disincentivizing resource-saving innovation. D. stimulating resource imports.