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.
A typical 3 ton (6,000 lb) capacity hydraulic jack.
Excess heat capacity chart
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Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ...