How is a monopolistically competitive firm similar to a perfectly competitive firm?
A) Both will observe entry into the industry if economic profit is positive.
B) Both produce where average total cost equals marginal cost.
C) Both make a positive economic profit in the long run.
D) Both produce a homogeneous good.
A
Economics
You might also like to view...
One reason governments impose taxes is to ________
A) reduce the number of transactions in an economy B) redistribute funds via transfer payments C) increase competition among producers D) increase the volume of exports
Economics
The concept of equity pertains to the fairness of a tax.
Answer the following statement true (T) or false (F)
Economics