For the monopolistically competitive firm,

a. competition is blocked by barriers to entry
b. limit pricing can forestall competition indefinitely
c. marginal revenue is less than the product's price
d. price discrimination is a key tool
e. marginal revenue is equal to the product's price

C

Economics

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What is the usual response of firm to an increase in the price of what they sell?

a. An increase in output. b. An increase in hiring factors of production. c. An increase in the profit level of the firm. d. An increase in employment at the firm. e. All of the above.

Economics

Higher breakeven levels of income can be achieved by decreasing

A. Earnings disregards. B. In-kind benefits. C. The marginal tax rate. D. Basic benefits.

Economics