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Author Question: A monopolistic competitive firm is inefficient because the firm: a. is not maximizing its profit. ... (Read 65 times)

Marty

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on: Jun 30, 2018
A monopolistic competitive firm is inefficient because the firm:
 a. is not maximizing its profit.
  b. is producing at an output where average total cost is not minimum.
  c. earns positive economic profit in the long run.
  d. none of these.

Question 2

Only at the point of consumer equilibrium does the marginal rate of substitution (MRS) equal the:
 a. slope of the budget line.
  b. slope of the indifference curve.
  c. price ratio.
  d. all of these.


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Anna

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

d


Marty

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  • Posts: 553
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

abro1885

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  • Posts: 337
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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