In the long run, a monopolistic competitor
A) sets MR = MC.
B) produces where P = AC.
C) sets P > MC.
D) All of the above.
D
Economics
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If the foreign exchange rate is 70 cents for one Swiss franc, then
A) a car that costs 40,000 francs will cost $7,143.00. B) a wine that costs 200 francs will cost $14.00. C) a clock that costs 500 francs will cost $350.00. D) a house that costs 100,000 francs will cost $700,000.00.
Economics
What is the main difference between the law of demand and the price elasticity of demand?
Please provide the best answer for the statement.
Economics