Firms in monopolistic competition always will
A) make an economic profit.
B) set their price equal to their marginal cost.
C) set their price above their marginal cost.
D) produce at the minimum average total cost.
C
Economics
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If a consumer allocates income between goods A and B, total utility is maximized when:
a. the marginal utility of A = the marginal utility of B. b. the marginal utility of A = the marginal utility of B = 0. c. the price of A = price of B. d. marginal utility of A / price of A = marginal utility of B / price of B = 0. e. marginal utility of A / price of A = marginal utility of B / price of B.
Economics
Diseconomies of scale occur when high levels of output are produced in a short period of time
a. True b. False Indicate whether the statement is true or false
Economics