Average variable cost is minimized in long-run equilibrium for a monopolistically competitive firm.
Answer the following statement true (T) or false (F)
False
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As productive capital goods are established in developing nations
A) developed nations will become less prosperous. B) these countries will experience higher rates of economic growth. C) portfolio investment will be replaced by loans from international aid agencies. D) they will be less likely to engage in international trade.
The demand curve faced by a dominant firm in an oligopoly model is the difference between the market demand and the supply that the fringe will produce at each price
Indicate whether the statement is true or false
Monopolistic competition is characterized by
a. one firm selling several products. b. many firms selling the same product. c. many firms selling slightly different products. d. one firm selling one product.
The price of one product in terms of another commodity is called its
A) relative price. B) money price. C) financial price. D) converse price.