Some economists argue that monopolistically competitive markets are inefficient because:
a. the firms earn economic profits in the long run.
b. the firms' marginal costs and marginal revenues are not always equal.
c. firms do not produce the output rate that would minimize their average total cost.
d. barriers to entry are high.
Question 2
Which of the following is true if the total variable cost curve is rising?
a. Average fixed cost is increasing.
b. Marginal cost is decreasing.
c. Marginal cost is increasing.
d. Average fixed cost is constant.
Non-competitive inhibition
In 2008, the U.S. economy suffered a gaping wound as several trillion dollars were ripped out of it.
Lineweaver–Burk plots of the reactions with and without a competitive inhibitor
Farmers’ markets provide fresh, local produce to consumers
Project Management: Achieving Competitive Advantage
Competitive firms and maximization