The marginal revenue of a monopolistically competitive firm
A) will equal average revenue.
B) cannot be negative because the price the firm charges will always be greater than zero.
C) can be negative if the firm charges a high price.
D) can be negative if the firm charges a low price.
D
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In order to measure gross domestic product, we can follow
A) three approaches: the expenditure approach, the income approach, and the production approach. B) only one approach: the circular flow approach. C) two approaches: the expenditure approach and the income approach. D) only one approach: the national accounts approach. E) three approaches: the expenditure approach, the income approach, and the market-based approach.
Rivalry among firms would tend to be high if
a. Customers are locked into the competitors technology b. Customers can easily switch between competitor's technologies c. All of the above d. None of the above