What economic concept would be most closely associated with a situation where an aluminum plant uses extensive computerization on the production line to reduce per-unit costs of production?

Monopolistically competitive industries are inefficient because:

A. they realize diseconomies of scale. B. advertising costs retard technological advance and product development. C. they are overpopulated with firms whose plants are underutilized. D. monopolistically competitive sellers engage in misleading advertising.

If a monopolist is producing the quantity at which marginal revenue equals marginal cost, it should

A) continue to produce this amount if it wants to maximize profits. B) reduce output if it wants to maximize profits. C) increase price and keep output unchanged if it wants to maximize profits. D) increase output if it wants to maximize profits.