In the long run, equilibrium positions that arise in both monopolistically competitive and perfectly competitive markets are
A. P = ATC and P = MC.
B. MR = MC and P = ATC.
C. MR = MC = P.
D. MR = MC and P = MC.
Answer: B
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The excess of total credits over total debits in the current and private capital accounts is called the
A) BOP deficit. B) BOP surplus. C) official settlements account surplus. D) official settlements account deficit.
The management of money and interest rates is called ________ policy and is conducted by a nation's ________ bank
A) monetary; superior B) fiscal; superior C) fiscal; central D) monetary; central
When what people pay does not necessarily reflect the real value they put on a good, it is likely that the:
A. free rider problem does not exist. B. good will be undersupplied. C. good is easily excludable. D. not a socially desirable good.
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a. a desire to promote the general welfare. b. a desire to meet the conditions of economic efficiency for the economy as a whole. c. altruism or the good of the public as a whole. d. personal self-interest.