A monopolistically competitive firm finds its profit-maximizing rate of output by equating
A) the marginal revenue of advertising with the marginal cost of advertising.
B) average revenue and average total cost.
C) price and marginal cost.
D) marginal revenue and marginal cost.
D
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The theory of an OCA sets out benefits to be derived from increased trade. A comparison of the U.S. currency area with that of the Eurozone reveals that:
A) interstate and inter-region trade is roughly equal in both areas. B) interstate and inter-region trade in the United States is smaller as a percent of gross state product than the same figure for Europe. C) interstate and inter-region trade in the United States is much larger as a percent of gross state product than the same figure for Europe. D) trade comparisons are largely irrelevant to the success of a currency union.
As a percentage of total expenditures, spending on highways has _____ since 1970 . Spending on interest payments has _____ over the same time span
a. increased; increased b. decreased; decreased c. increased; decreased d. decreased; increased