Excess capacity in monopolistically competitive industries results because in equilibrium
A) each firm's output level is too great to minimize average cost.
B) each firm's output level is too small to minimize average cost.
C) firms make positive economic profit.
D) price equals marginal cost.
B
Economics
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A) equal to 0. B) negative. C) positive. D) impossible to determine without more information.
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Human capital contributes to growth because it helps workers in the economy:
A. produce more with the same amount of physical capital. B. work smarter. C. be more productive with their time. D. All of these are true.
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