On a graph, to determine the price a profit-maximizing monopolist would charge, find the quantity at which MC and MR intersect and read up to the demand curve

Mass production integrates

a. continuous flow and interchangeable parts. b. economies of scale and scientific management. c. the McCallum principles. d. the Taylor premises.

Explain why advertising is very important to a monopolistically competitive firm but not to a perfectly competitive firm or a monopolistic firm