Tony's Italian Ice is a monopolistically competitive firm. If Tony's earns a profit in the short run, which of the following is most likely to occur?
A) New firms that sell Italian ice will enter the market and Tony's demand curve will shift to the right.
B) New firms that sell Italian ice will enter the market and Tony's demand curve will become more inelastic.
C) New firms that sell Italian ice will enter the market and Tony's cost curves will shift to the left.
D) New firms that sell Italian ice will enter the market and Tony's demand curve will shift to the left.
Question 2
Which of the following statements is false?
A) Marginal cost will equal average total cost when marginal cost is at its lowest point.
B) When marginal cost is greater than average total cost, average total cost will rise.
C) Marginal cost will equal average total cost when average total cost is at its lowest point.
D) When marginal cost is less than average total cost, average total cost will fall.
Italian Greyhound
Intussusception. A short length of small intestine has telescoped into itself.
Children with Down syndrome have a small head, short, thick neck, flattened face, and a distinctive ...
The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ...
Profit-maximizing Chart
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...