In the long-run equilibrium of a monopolistically competitive industry
A. P = MC.
B. P > minimum (ATC).
C. P < MC.
D. P = minimum (ATC).
Answer: B
Economics
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Why are suburban stores more likely than downtown stores to provide free parking for their customers?
A) Fewer people drive their cars to downtown stores than to suburban stores. B) Suburban people are more addicted to the automobile than are inner-city residents. C) The cost of using land is higher in the downtown area. D) There is not much land available in the downtown area.
Economics
Refer to Figure 12-4. What is the amount of its total fixed cost?
A) $1,080 B) $1,440 C) $2,520 D) It cannot be determined.
Economics