The long-run equilibrium for a monopolistically competitive firm occurs ________
A) at the minimum point of the marginal cost curve
B) at the minimum point of the average cost curve
C) along the downward sloping portion of its average total cost curve
D) along the upward sloping portion of its average total cost curve
C
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If you want to deflate the current price of something to eliminate the effect of inflation,
a. divide the number by the price index. b. multiply the number by the price index. c. multiply the number by 2 and then divide by the price index. d. multiply the number by the price index and then divide by 2.
In a free market economy,
A. problems with externalities can never be solved. B. public goods will be efficiently provided by the private sector. C. detrimental externalities are rare. D. externalities can be solved by policy makers using market methods.