Exhibit 10-2 A monopolistic competitive firm
To maximize long-run profits, the monopolistically competitive firm shown in Exhibit 10-2 will charge a price per unit of:
A. zero.
B. $5.
C. $10.
D. $15.
Answer: D
You might also like to view...
Why do economists predict that investment increases when the real rate of interest falls?
What will be an ideal response?
If a university begins a policy of permanently expelling any student caught cheating in any way, you would expect that: a. no students would cheat
b. fewer students would cheat. c. major cases of cheating would become a larger fraction of all cases of cheating attempted. d. Both b. and c. would occur.
A monopoly firm is a price
a. taker and has no supply curve. b. maker and has no supply curve c. taker and has an upward-sloping supply curve. d. maker and has an upward-sloping supply curve.
________ a nation's production possibilities frontier represents economic growth
A) An outward shift of B) An inward shift of C) Moving up along D) Moving down along