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Author Question: Which of the following is ALWAYS true regarding a profit maximizing monopolistically competitive ... (Read 14 times)

future617RT

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on: Jun 29, 2018
Which of the following is ALWAYS true regarding a profit maximizing monopolistically competitive firm in short-run equilibrium?
 
  A) P = ATC.
  B) P = MR.
  C) MR = MC.
  D) MC = ATC.

Question 2

The ABC Nail Company has entered into a collusive agreement with the other firm in the industry, the DC Nail Company. What occurs in the nail industry if ABC decides to cheat on the agreement?
 
  A) ABC lowers the price of its nails.
  B) The total industry output increases.
  C) The total profits in the nail industry will decrease.
  D) All of the above answers are correct.


ong527

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


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future617RT

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Reply #2 on: Jun 29, 2018
Thank you


ong527

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Reply #3 on: Jun 29, 2018
No problemo


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