In the long-run, in a monopolistically competitive market:
a. marginal revenue is greater than average revenue.
b. price equals marginal cost.
c. price equals minimum average total cost.
d. the firms earn positive economic profits.
e. resources are inefficiently allocated .
e
Economics
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a. functional b. line and staff c. product d. matrix
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Consider the two graphs above. Suppose that improvements in storage technology reduce inventory losses. This would ________ the desired level of inventories, as depicted in graph ________
A) increase; B B) increase; A C) decrease; B D) decrease; A
Economics