An empirical study determines that price exceeds marginal cost at the levels of output of firms in long-run equilibrium in the widget industry. The widget industry may therefore
a. be monopolistically competitive.
b. have firms whose goal is sales maximization.
c. have firms that act as price leaders.
d. All of the above are correct.
d
Economics
You might also like to view...
Refer to the figure above. What is the social surplus if the market is in equilibrium?
A) $50 B) $75 C) $100 D) $150
Economics
Events that shift the Ap demand schedule to the left also cause ________ the IS curve
A) movements downward along B) movements upward along C) parallel rightward shifts of D) parallel leftward shifts of
Economics