In the long run, the monopolistically competitive firm's demand curve will
A. become tangent to the ATC curve somewhere to the left of its minimum point.
B. intersect the ATC curve somewhere past the minimum point.
C. intersect the ATC at its minimum point.
D. become tangent to the ATC curve at its minimum point.
Answer: A
Economics
You might also like to view...
The monopolistically competitive firm differs from monopoly in that its
a. demand curve is flatter. b. demand curve slopes downward. c. MR curve lies below its demand curve. d. profit is maximized where MR = MC.
Economics
Who is included in the labor force by the Bureau of Labor Statistics?
a. Dia, an unpaid homemaker not looking for other work b. Kevin, a full-time student not looking for work c. Sarah, who does not have a job but is looking for work d. None of the above is correct.
Economics