The marginal revenue curve of a monopolistic competitor ________
A) lies above the demand curve
B) lies below the demand curve
C) is the same as the demand curve
D) is the same as the supply curve
B
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Suppose that cookie producers create a positive externality equal to $2 per dozen. What is the relationship between the equilibrium quantity and the socially optimal quantity of cookies to be produced?
a. They are equal. b. The equilibrium quantity is greater than the socially optimal quantity. c. The equilibrium quantity is less than the socially optimal quantity. d. There is not enough information to answer the question.
Suppose you have been hired as a management consultant by a major oil company to help it optimally price gasoline at its service stations. Your client would like your team to perform a study on? customers' gasoline purchasing habits when they notice price increases. You suggest that the team? _____________.
A. collect competitor data. Your answer is not correct. B. develop a model that allows for scenario analysis. C. design and execute an experiment. D. utilize artificial intelligence to model human behavior.