In monopolistic competition, in the long run firms produce
A) less output than that which minimizes their ATC.
B) more output than that which minimizes their ATC.
C) the amount of output that minimizes their ATC and their AVC.
D) the amount of output that minimizes their ATC but not their AVC.
A
Economics
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Table 15.1Table 15.1 shows the preferred budget in millions for a new sports facility and the number of thousands of voters in a community who prefer that budget. Tom proposed a budget of $7 million while Mary proposed a budget of $2 million. This suggests that Tom will get ________ thousand votes while Mary gets ________ thousand votes.
A. 7; 36 B. 22; 21 C. 27; 16 D. 31; 12
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