In a long-run equilibrium, monopolistically competitive firms produce where: A). marginal cost is equal to price. B). marginal revenue is equal to price. C). average total cost is equal to price. D). marginal revenue is greater than marginal cost.
In a long-run equilibrium, monopolistically competitive firms produce where: A). marginal cost is equal to price. B). marginal revenue is equal to price. C). average total cost is equal to price. D). marginal revenue is greater than marginal cost.
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter10: Monopolistic Competition And Oligoply
Section: Chapter Questions
Problem 6SQ
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In a long-run equilibrium,
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A). marginal cost is equal to |
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B). marginal revenue is equal to price. |
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C). |
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D). marginal revenue is greater than marginal cost. |
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