The monopolist and the perfect competitor are similar in that
A. both operate at the minimum of the ATC curve.
B. both have close substitutes.
C. both types of markets have no barriers to entry.
D. both produce at an output level where MC = MR.
D. both produce at an output level where MC = MR.
You might also like to view...
A perfectly competitive firm will shut down when the price is just below the minimum point on the
A) average fixed cost curve. B) average total cost curve. C) marginal cost curve. D) average variable cost curve. E) marginal revenue curve.
A consumer may increase her saving by
A) working more hours and consuming more goods in the present period. B) working more hours and consuming fewer goods in the present period. C) working fewer hours and consuming more goods in the present period. D) working fewer hours and consuming fewer goods in the present period.