A monopolistically competitive firm maximizes profits when it
A) produces the quantity at which marginal cost equals the market price.
B) produces the quantity at which marginal cost equals marginal revenue and uses the demand curve to determine the market price.
C) produces the quantity at which marginal cost equals marginal revenue and sets the price equal to the marginal cost.
D) produces the quantity at which marginal cost equals marginal revenue and sets the price equal to the marginal revenue.
B
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The job finding rate is defined as
A) the probability that someone who has been unemployed for over a year will find a job in the next month. B) the probability that someone who is not in the labor force will enter the labor force in the next month. C) the probability that someone who is employed will change jobs in the next month. D) the probability that someone who is unemployed will find a job in the next month.
The difference between money and income is that whereas income is an individual's
A) flow of earnings over a period of time, money is an individual's stock of currency and currency substitutes. B) stock of all assets, money is an individual's stock of currency and currency substitutes. C) flow of earnings over a period of time, money is an individual's stock of all assets. D) stock of currency and currency substitutes, money is an individual's stock of all assets.