Excess capacity occurs in long-run equilibrium under monopolistic competition so that:
a. price is less than marginal cost
b. price exceeds minimum average cost.
c. marginal revenue exceeds price.
d. all of the above occur.
b
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Which of the following is not a part of the Sarbanes-Oxley Act of 2002?
A) the establishment of a Public Company Accounting Oversight Board (PCAOB) to supervise accounting firms and thus insure that audits are independent and controlled for quality B) increased penalties for white-collar crime and obstruction of official investigations C) requires a CEO and CFO to certify that periodic financial statements and disclosure of the firm are accurate D) requires investment banks to make public their analysts' recommendations
Over the period 1980–2007, the annual rate of increase in government spending on elementary, secondary, and higher education, measured in constant dollars, was approximately
a. 1 percent b. 3 percent c. 10 percent d. 15 percent e. 25 percent