Long-run equilibrium in a monopolistically competitive market is similar to long-run equilibrium in a
perfectly competitive market in that in both markets, firms
A) produce at the minimum point of their average total cost curves.
B) produce where price equals marginal revenue.
C) break even.
D) produce where price equals marginal cost.
C
You might also like to view...
If Japan imposes a quota on imports of rice, the effect will be
A. less rice and higher price in Japan, lower rice prices in exporting countries. B. more rice and higher price in Japan, higher rice prices in exporting countries. C. less rice and lower price in Japan, higher rice prices in exporting countries. D. more rice and lower price in Japan, lower rice prices in exporting countries. E. less rice and higher price in Japan, higher rice prices in exporting countries.
In the long-run, higher saving leads to
What will be an ideal response?
Barbara Ehrenreich and Beth Schulman both described jobs in the ________ labor market.
Fill in the blank(s) with the appropriate word(s).
A flow is a measure defined:
A. in real terms. B. in nominal terms. C. per unit of time. D. at a point in time.