In a monopolistically competitive market, the consumer receives the benefit of
A) production at minimum average cost.
B) production where price equals marginal cost.
C) product differentiation.
D) allocative efficiency.
C
Economics
You might also like to view...
An unregulated, single-price monopoly is shown in the figure above. If its fixed cost is $20, the monopoly's total economic profit when it is maximizing its profit will be
A) negative. B) $0. C) $25. D) $50.
Economics
Dumping occurs when a firm
A) sells too much of a good in a foreign country. B) sells in a foreign country at prices that are below fair value. C) sells in its home market at prices that are below the average price charged by its competitors. D) sells in a foreign market at prices that are below the prices charged by firms based in the foreign market. E) charges more than a fair price.
Economics