For a monopolistic competitor experiencing a? short-run loss, price is? ________ average total cost and? ________ marginal cost.
Fill in the blank(s) with the Appropriate word (s).
Ans: less than; greater than
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Credit rationing refers to
A) the increase in the interest rate that occurs when the demand for credit increases. B) the increase in the interest rate that occurs when the supply of credit increases. C) the increase in the interest rate that occurs when the supply of credit decreases. D) a restriction in the availability of credit.
A firm operating in a perfectly competitive market may earn positive, negative, or zero economic profit in the short run
a. True b. False Indicate whether the statement is true or false
In the business cycle, what is the difference between the recovery phase and the expansion phase?
A) The expansion phase occurs in the rising portion of the business cycle, while the recovery phase occurs in the falling portion of the business cycle. B) The expansion phase occurs in the falling portion of the business cycle, while the recovery phase occurs in the rising portion of the business cycle. C) The expansion phase is the period when Real GDP increases beyond the recovery phase. D) The expansion phase must always come before the recovery phase.
____ in taxes will decrease consumption spending, and ____ in transfer will increase consumption spending
Fill in the blank(s) with the appropriate word(s).