In long-run equilibrium in a monopolistically competitive industry:

When one is considering the cost of taking a trip in their car, the average cost per mile includes some items of cost that are not included in the marginal cost of a mile drive. This statement is:

a. always true b. always false c. sometimes true and sometimes false depending on the circumstances d. absurd because marginal costs do not apply to mileage costs e. none of the above

If a firm operates in a imperfectly competitive market, it may be able to price its products in local currencies above world prices for their goods. This is called

A) pricing to market. B) trade war. C) trade stickiness. D) price gauging.