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Social Science Clinic => Economics => Topic started by: cabate on Apr 19, 2019

Title: If a monopolistically competitive firm is producing where MR= MCand price is greater than ATC, the ...
Post by: cabate on Apr 19, 2019

Question 1

If a monopolistically competitive firm is producing where 
MR = 
MC and is in long-run equilibrium, then price is equal to 
ATC.

◦ true
◦ false

Question 2

If a monopolistically competitive firm is producing where 
MR = 
MC and price is greater than 
ATC, the firm is earning a profit.

◦ true
◦ false

Title: If a monopolistically competitive firm is producing where MR= MCand price is greater than ATC, the ...
Post by: amandalm on Apr 19, 2019

Answer 1

true

Answer 2

true