Refer to the above graph of the representative firm in monopolistic competition. Point c is the intersection of the:
A. marginal cost and average total cost curves.
B. average total cost and demand curves.
C. marginal cost and demand curves.
D. marginal cost and marginal revenue curves.
Answer: C
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A reference dose (RfD) measures the amount of a
a. a pollutant one can be exposed to over a year without harm b. a hazard one can be exposed to over a year before dying c. an environmental hazard one can be exposed to over a lifetime before dying d. all of the above e. none of the above
Economies of scale are also called increasing returns to scale.
Answer the following statement true (T) or false (F)
According to the economics of exhaustible resources, if the interest rate increases,
A) an exhaustible resource will be used up sooner. B) an exhaustible resource will be used up over a longer period of time. C) the period of time until an exhaustible resource is used up will not change. D) none of the above
Value maximization means
A) that managers make decision so as to increase the long-run market value of the financial claims on the firm. B) that a firm should make products that have the highest price. C) that managers make decision so as to increase the short-run market value of the financial claims on the firm. D) all of these choices.