At a monopolistically competitive firm's current level of product development, marginal revenue of product development is greater than its marginal cost. The firm will ________

A set of ideas about the economy that have been organized in a logical framework is called

A) empirical analysis. B) a methodology. C) economic theory. D) data development.

Which of the following statements is true?

A) Price ceilings set below the equilibrium price cause shortages. B) Surpluses result when a price floor is set above the equilibrium price. C) Price ceililngs set above the equilibrium price cause surpluses. D) Price ceilings are set by the market and price floors are set by the government. E) ?a and b