According to Chamberlin, the fact that in the long run average total cost exceeds its minimum value under monopolistic competition is
A. part of the cost of producing different products for consumers.
B. the social cost of monopolistic competition.
C. actually beneficial because it makes adjustments easier when demand increases.
D. the most important reason for why monopolistic competition is not efficient.
Answer: A
Economics
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When we hear on the news, "The Fed has increased interest rates today," the Fed has most likely
A) raised the required reserve ratio. B) sold government bonds. C) lowered the discount rate. D) bought government bonds.
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Because only competitive firms are price takers, only competitive firms have supply curves.
Answer the following statement true (T) or false (F)
Economics