Homework Clinic
Social Science Clinic => Economics => Microeconomics => Topic started by: a0266361136 on May 24, 2019
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For a firm in monopolistic competition to undertake product development, the marginal cost of the development must be ________ the marginal benefit of the development to consumers.
◦ greater than
◦ less than
◦ not comparable to
◦ equal to or less than
◦ None of these because a monopolistically competitive firm undertakes product development if the marginal cost of the development is less than or equal to the marginal revenue to the firm from the development.
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None of these because a monopolistically competitive firm undertakes product development if the marginal cost of the development is less than or equal to the marginal revenue to the firm from the development.