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Author Question: Resource use is allocatively efficient A) when marginal benefit equals marginal cost. B) ... (Read 41 times)

maychende

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on: Jun 29, 2018
Resource use is allocatively efficient
 
  A) when marginal benefit equals marginal cost.
  B) whenever marginal benefit exceeds marginal cost.
  C) whenever marginal cost exceeds marginal benefit.
  D) when the maximum possible quantity is being produced.

Question 2

A monopolistic competitor incurs losses if ________.
 
  A) price is higher than average total cost
  B) price is lower than marginal cost
  C) price is equal to marginal cost
  D) price is lower than average total cost


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Anna

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

A

Answer to Question 2

D


maychende

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

ryhom

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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