The monopolistic competitor
A. produces at the minimum point of her average total cost curve.
B. maximizes profits but does not minimize losses.
C. is usually a small firm.
D. can be a monopoly.
C. is usually a small firm.
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If the economy is fully employed, which of the following is true?
A) The price level equals 100. B) Real and nominal GDP are equal. C) Real and potential GDP are equal. D) The unemployment rate is zero. E) Real GDP cannot increase.
Refer to the above figure. Suppose E is the original equilibrium. Japanese residents have increased their demand for U.S. goods. This will lead to
A) a depreciation of the yen and an increase in the quantity of yens sold per week. B) a depreciation of the yen and a decrease in the quantity of yens sold per week. C) an appreciation of the yen and an increase in the quantity of yens sold per week. D) an appreciation of the yen and a decrease in the quantity of yens sold per week.