Author Question: In monopolistic competition, in the long run firms produce A) less output than that which ... (Read 55 times)

LaDunn · **on:** Jun 29, 2018

In monopolistic competition, in the long run firms produce

A) less output than that which minimizes their ATC.
B) more output than that which minimizes their ATC.
C) the amount of output that minimizes their ATC and their AVC.
D) the amount of output that minimizes their ATC but not their AVC.

Question 2

As the Federal Trade Commission currently interprets the Herfindahl-Hirschman index (HHI), an industry is considered to be highly concentrated if the HHI value is above

A) 100.
B) 1,000.
C) 2,500.
D) 5,000.