A monopolistically competitive firm will always choose to produce where
A) marginal revenue equals marginal cost.
B) marginal cost meets the demand curve.
C) average total cost meets the demand curve.
D) average total cost is minimized.
A
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________ means the supply curve has shifted to the right, while ________ refers to a movement along a given supply curve in response to an increase in price
A) An increase in supply; an increase in quantity supplied B) A decrease in supply; a decrease in quantity supplied C) A decrease in supply; an increase in supply D) An increase in supply; a decrease in supply
In November 2009, Econland Motors produced an automobile that was delivered to a local 25-52 Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. dealership in December 2009. The auto was then sold to Sharon Smith for personal use in February of 2010. Following national income accounting practices, this auto would be counted as part of:
A. Consumption in 2009 and consumption in 2010 B. Consumption in 2009 and investment in 2010 C. Negative investment in 2009 and consumption in 2010 D. Investment in 2009 and negative investment in 2010