For a monopolistically competitive firm, at the profit-maximizing quantity of output,
a. price exceeds marginal cost.
b. marginal revenue exceeds marginal cost.
c. marginal cost exceeds average revenue.
d. price equals marginal revenue.
a
Economics
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Assortative mating means that
A) poor women and rich men tend to marry. B) rich women and rich men tend to marry. C) rich women and poor men tend to marry. D) there are limited incentives to marry anyone.
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If a natural monopoly is regulated using the marginal cost pricing rule, how does the regulation affect prices, outputs, profits, and the distribution of surpluses? What are the pros and cons to this method of regulation?
What will be an ideal response?
Economics