The marginal revenue curve of a monopolistically competitive firm will always lie:
A. below the firm's demand curve.
B. parallel to the firm's demand curve.
C. parallel to the firm's quantity axis.
D. above the firm's demand curve.
Answer: A
Economics
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A) in the recession phase of the business cycle. B) in the expansion phase of the business cycle. C) at potential GDP. D) no longer in a business cycle.
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The Sherman Antitrust Act of 1890
(a) did not specify what economic actions are legal. (b) said that only competitive economic actions were legal. (c) declared illegal every combination in restraint of trade. (d) declared none of the above.
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