Which of the following is TRUE regarding the long run for a firm in monopolistic competition?
A) P = MC = ATC
B) P = MC = MR
C) ATC = MC = MR
D) P = ATC
D
Economics
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Refer to the scenario above. What is the price effect of the price change?
A) $1,750 B) $2,000 C) $3,750 D) $5,400
Economics
Menu costs are an important source of price stickiness because ________
A) printing menus is costly B) putting items "on sale" reduces firms' revenue C) frequent price changes may lead to losing customers D) all of the above E) none of the above
Economics