The profit-maximizing rule for a monopolistically competitive firm is to select the quantity at which
A) average revenue equals average total cost.
B) price equals marginal cost.
C) average revenue exceeds marginal cost by the greatest amount.
D) marginal revenue equals marginal cost.
D
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Between the years 1870 and 1920, what happened to the agricultural labor force?
(a) It nearly doubled in numbers but declined significantly in its share of the total labor force. (b) It remained about the same in numbers and declined significantly as a percent of the total labor force. (c) It nearly doubled in numbers while remaining approximately the same percentage of the total labor force. (d) It declined both in numbers and as a percent of the total labor force.
In the aggregate expenditures model, a tax cut causes a(n):
a. upward shift in the aggregate expenditures curve. b. downward shift in the aggregate expenditures curve. c. shift in the 45-degree line. d. rightward movement along the aggregate expenditures curve. e. leftward movement along the aggregate expenditures curve.