What is "market signaling"?
What will be an ideal response?
A way of signaling information to other parties in situations where asymmetric information exists so that their ability to make correct decisions is improved.
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In the long run, monopolistically competitive firms produce where
A) excess capacity exists. B) the markup is equal to zero. C) the demand curve has shifted so that it intersects the minimum average total cost point. D) average total cost is minimized.
Consumer surplus is the difference between:
a. what the consumer is willing to pay and what the consumer must actually pay to receive a good or service. b. the quantity of goods a consumer is willing to buy and the quantity of goods the consumer actually buys. c. what the producer is willing to receive and what the consumer must actually pay to receive a good or service. d. the quantity of goods a producer is willing to and the quantity of goods the consumer actually buys.