Which of the following will not generally be true of a monopolistic competitor operating in the long run?

a. marginal cost exceeds average total cost
b. marginal revenue = marginal cost
c. production in the range of economies of scale
d. price greater than marginal revenue

a

Economics

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Refer to Table 9-11. With trade, what is the total gain in hat production?

A) 150 B) 300 C) 400 D) 650

Economics

If Q = K1/3L2 the MPK is

a. constant b. diminishing c. increasing

Economics