a. True b. False
B
For the monopolistically competitive firm
A) P = MR > AR. B) P > MR = AR. C) Price (P) = Marginal Revenue (MR) = Average Revenue (AR). D) P = AR > MR.
In the above figure, what is the wage rate for the perfectly competitive market?
A) W1 B) W2 C) W3 D) W4