Branding allows monopolistically competitive firms to:
a. achieve allocative efficiency
b. increase demand and profits.
c. produce at the lowest marginal cost.
d. achieve productive efficiency.
b
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Under what conditions would a perfectly competitive cotton farmer who is incurring an economic loss temporarily stay in business?
A) if the total revenue exceeds the total fixed cost B) if the total revenue exceeds the total variable cost C) if the total revenue is positive D) if the total revenue is increasing E) if the marginal revenue exceeds the price.
A depreciation in the U.S. dollar on the foreign exchange market will
a. make U.S. exports more expensive to foreigners. b. make imports less expensive for U.S. consumers. c. make U.S. exports cheaper for foreign consumers. d. encourage U.S. consumers to travel abroad.