For a monopolistically competitive firm
A) price equals marginal revenue at all levels of output.
B) price is less than marginal revenue at all levels of output.
C) price is greater than marginal revenue at all levels of output except for the first unit.
D) the demand curve is perfectly inelastic and marginal revenue is zero.
C
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Suppose that you have saved $100 . You can spend it today or you can put it in your savings account for a year and earn 5% interest. What is the opportunity cost of spending the money today?
What will be an ideal response?
Which of the following explains why big business typically spends more on rent-seeking activities than consumers?
A. Lobbying is a public good to consumers. B. Lobbying is a public good to businesses and labor unions in the involved firms. C. Labor unions in the involved firms. D. Lobbying is a public good to businesses.