The long-run equilibrium of a monopolistically competitive firm is characterized by
A) a tangency of the average total cost curve with the firm's demand curve.
B) price equal to marginal cost.
C) production at the minimum point of the firm's average total cost curve.
D) production at the minimum point of the firm's average variable cost curve.
A
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A) consumer; producer B) consumer; consumer C) producer; producer D) producer; consumer E) total; consumer
_________ is the study of the characteristics of human populations
a. Demography b. Geography c. Paleontology d. Gerontology
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a. wages and salary earnings. b. personal consumption. c. net profits of corporations. d. gross private investment.
The principal determinants of total and average cost curves are the firm's technology and the prices of its inputs
a. True b. False Indicate whether the statement is true or false