When firms exit a monopolistically competitive industry:
a. the average total cost curves of remaining firms will shift upward
b. the demand curves of remaining firms are decreased at each level of output.
c. the remaining firms will decrease production.
d. the average revenue received by remaining firms will increase at each level of output.
d
Economics
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A wholesale flower market is an example of ________
A) perfect competition B) monopolistic competition C) monopoly D) oligopoly
Economics
A bank has $100 million of checkable deposits, $6 million of required reserves, and $2 million of excess reserves. What is the required reserve ratio?
a. 2 percent. b. 3 percent. c. 6 percent. d. 12 percent.
Economics