In the long run, a monopolistic competitive firm will operate at a price which:
a. is higher than minimum long-run average cost.
b. equals minimum long-run average cost.
c. equals marginal cost.
d. none of these.
a
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Recycling rates for aluminum, paper, and glass have been increasing in the United States
a. True b. False Indicate whether the statement is true or false
According to long-run growth models, which of the following is least likely to increase potential output?
A. Higher levels of saving and capital accumulation B. More rapid development of growth-compatible institutions C. Increased levels of entrepreneurship D. Increased aggregate demand
Appeals to fairness can be made by
A. both those in favor of and those against government intervention to reduce inequality. B. only those against government intervention to reduce inequality. C. neither those in favor of nor those against government intervention to reduce inequality. D. only those in favor of government intervention to reduce inequality.
Refer to the data provided in Table 9.1 below to answer the question(s) that follow.
Table 9.1
Refer to Table 9.1. If the market price is $42, then in the long run the firm will
A. operate and expand. B. operate but not expand. C. shut down, but not go out of business. D. go out of business.