In the long run, a monopolistic competitor's price will equal:
a. marginal revenue
b. average total cost.
c. marginal cost.
d. minimum average total cost.
b
Economics
You might also like to view...
Between 2013 and 2016, a country's nominal GDP grew by 18 percent and its inflation rate (based on the chain-weighted price index for GDP) was 11 percent. How fast did real GDP grow over this period?
What will be an ideal response?
Economics
In the monetary small open-economy model with a flexible exchange rate, an increase in the domestic price level has which impact on domestic money demand?
A) It increases it. B) It decreases it. C) It has no impact. D) It depends.
Economics