New firms will enter a monopolistically competitive market if
a. price is greater than marginal cost.
b. marginal revenue is greater than marginal cost.
c. marginal revenue is greater than average total cost.
d. price is greater than average total cost.
Ans: a. price is greater than marginal cost.
Economics
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If the supply of labor increases while demand for labor is unchanged,
A) the real wage and labor productivity will increase. B) the real wage will decrease and labor productivity will increase. C) the real wage will increase and labor productivity will decrease. D) the real wage and labor productivity will decrease.
Economics
If your marginal utility becomes negative, your total utility _____________.
Fill in the blank(s) with the appropriate word(s).
Economics