A monopolistically competitive firm has excess capacity because in the
A) short run its MR exceeds its MC.
B) short run its ATC is less than its AVC.
C) long run its ATC exceeds its minimum ATC.
D) long run it makes an economic profit.
Question 2
If marginal cost exceeds average variable cost but is less than average total cost, then as output increases average total cost ________ and average variable cost ________.
A) increases; decreases
B) decreases; decreases
C) increases; increases
D) decreases; increases
Intussusception. A short length of small intestine has telescoped into itself.
The 2012 U.S. presidential campaign rang with “get tough” cries to end Iran’s nuclear capacity and c
John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d
Levels of Processing Affects Long-Term but not Short-Term Memory
Excess heat capacity chart
Competitive firms and maximization