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Author Question: Which of the following describes the relative positions of the demand curve and the average total ... (Read 55 times)

luvbio

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on: Jun 29, 2018
Which of the following describes the relative positions of the demand curve and the average total cost (ATC) curve of a monopolistically competitive firm that earns a profit in the short run?
 
  A) In the short run, the firm's demand curve will lie above its ATC curve. The demand curve will be tangent to the ATC curve in the long run.
  B) In the short run, the firm's demand curve will lie below its ATC curve. The demand curve will be tangent to the ATC curve in the long run.
  C) In the short run, the firm's ATC curve will cross the demand curve at the profit maximizing level of output. The demand curve will be tangent to the ATC curve in the long run.
  D) In the short run, the firm's demand curve will cross its ATC curve at the ATC curve's lowest point. The demand curve will be above the ATC curve in the long run.

Question 2

A monopolist's profit-maximizing price and output correspond to the point on a graph
 
  A) where total costs are the smallest relative to price.
  B) where marginal revenue equals marginal cost and charging the price on the market demand curve for that output.
  C) where average total cost is minimized.
  D) where price is as high as possible.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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upturnedfurball

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Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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luvbio

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Reply 2 on: Jun 29, 2018
Excellent

cassie_ragen

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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