Unlike a perfectly competitive firm, for a monopolistically competitive firm
A) price ? marginal cost for all output levels.
B) price ? average revenue for all output levels.
C) price ? marginal revenue for all output levels.
D) marginal revenue = marginal cost at the profit-maximizing output.
C
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A profit maximizing single-price monopolist sets price equal to marginal cost
Indicate whether the statement is true or false
Most responsible central banks publish their balance sheet:
A. quarterly. B. at least monthly. C. semi-annually. D. at least once a year.
Antony's Pizza uses the same dough, sauce, and cheese for pizza and calzones. When the price of pizza is low Antony produces more calzones. For Antony, the supply of pizza is ________ compared to the supply at a pizza restaurant that does not serve calzones.
A. less price elastic B. more price elastic C. lower D. higher
While waiting in line to buy two tacos at 75 cents each and a medium drink for 80 cents, Jordan notices that the restaurant has a value meal containing three tacos and a medium drink all for $2.50. For Jordan, the marginal cost of purchasing the third taco would be
A) 75 cents. B) zero. C) 80 cents. D) 20 cents.