If a monopolistically competitive seller's marginal cost is $3.56, the firm will not change its output if
A) its marginal revenue is less than $3.56.
B) its marginal revenue is equal to $3.56.
C) its marginal revenue is more than $3.56.
D) its average total cost is equal to $3.56.
E) Both answers B and D are correct.
B
Economics
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A) its capital but not its labor. B) its labor but not its capital. C) both its labor and its capital. D) neither its labor nor its capital.
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Supply is said to be ____ when the quantity supplied is very responsive to changes in price
a. independent b. inelastic c. unit elastic d. elastic
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