Which of the following would likely cause an increase in the supply of single-serve coffee makers?
A) a decrease in the number of consumers demanding single-serve coffee makers
B) an increase in the price of single-serve coffee makers
C) a decrease in the cost of manufacturing single-serve coffee makers
D) a widespread expectation that the price of single-serve coffee makers will rise in the future
C
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If MRP > P, a firm should use less of that input.
Answer the following statement true (T) or false (F)
Which of the following statements explains a similarity between perfect competition and monopolistic competition?
A) Firms in these models make use of nonprice competition. B) Firms in these models operate at the minimum point on their long-run average total cost curves. C) Firms in these models produce differentiated products. D) Firms in these models find it easy to enter a market.