In the long run, a profit-maximizing monopolistically competitive firm sells at a price that is:
A. the same as in perfect competition.
B. equal to average total cost.
C. equal to marginal cost.
D. below average total cost
Answer: B
Economics
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When Dale buys a new computer for $1,000 using a credit card,
A) his bank account decreases by $1,000. B) he is taking out a loan for $1,000. C) the credit card is acting as money. D) the money supply decreases by $1,000. E) the credit card is performing the function of an unit of account.
Economics
In the case of a small country, consumer surplus
A) decreases less with a tariff than with an equivalent quota. B) decreases less with a quota than with an equivalent tariff. C) is not changed by tariffs or quotas. D) decreases the same with tariffs and equivalent quotas. E) increases more with quotas.
Economics