Is a monopolistically competitive firm productively efficient?
A) No, because it does not produce at minimum average total cost.
B) Yes, because it produces where marginal cost equals marginal revenue.
C) No, because price is greater than marginal cost.
D) Yes, because price equals average total cost.
Answer: A
Economics
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A) steadily increased. B) steadily decreased. C) increased dramatically, then decreased dramatically. D) decreased dramatically, then increased dramatically. E) remained more or less the same.
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Along the elastic portion of a linear demand curve, total revenue rises as price rises
a. True b. False Indicate whether the statement is true or false
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