A monopolistically competitive firm
a. charges a price that is equal to marginal cost.
b. experiences a zero profit in the long run.
c. produces at the efficient scale in the long run.
d. All of the above are correct.
b
Economics
You might also like to view...
Into which category of aggregate expenditure would each of the following transactions fall?
a. Sandra MacMillian purchases a new Ford Focus. b. The city of Richardson buys 5 new garbage trucks. c. Adrian Garcia buys a newly constructed townhome. d. A consumer in Latvia orders an iPhone from Apple. e. Ford Motor Company buys 300 new iPhones from Apple.
Economics
Bargaining does NOT normally occur in
A) vertical business relationships. B) wages and working conditions under a union contract. C) posted price markets. D) the legal system.
Economics