This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The theory of monopolistic competition predicts that in long-run equilibrium a monopolistically ... (Read 40 times)

ec501234

  • Hero Member
  • *****
  • Posts: 573
on: Jun 30, 2018
The theory of monopolistic competition predicts that in long-run equilibrium a monopolistically competitive firm will:
 a. produce at the level in which price equals long-run average cost.
  b. operate at minimum long-run average cost.
  c. overutilize its insufficient capacity.
  d. none of these.

Question 2

The slope of the budget line is equal to the ratio of:
 a. marginal utilities.
  b. money income to the price of the good on the horizontal axis.
  c. money income to the price of the good on the vertical axis.
  d. price of the good on the horizontal axis to the price of the good on the vertical axis.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

zoeyesther

  • Sr. Member
  • ****
  • Posts: 315
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

d


ec501234

  • Hero Member
  • *****
  • Posts: 573
Reply #2 on: Jun 30, 2018
Thank you :)


zoeyesther

  • Sr. Member
  • ****
  • Posts: 315
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Long-tailed Widowbird Long-tailed Widowbird
The Elastic Rebound Theory The Elastic Rebound Theory
Trichromatic Theory of Color Vision Trichromatic Theory of Color Vision
Homeschooling has come a long way. These children are performing in a musical at the annual ... Homeschooling has come a long way. These children are performing in a musical at the annual ...
Flexible exchange rates are supposed to prevent long-term trade deficits. Flexible exchange rates are supposed to prevent long-term trade deficits.
The Hardy–Weinberg equilibrium for two autosomal alleles. The Hardy–Weinberg equilibrium for two autosomal alleles.
Video: Protein Secondary and Tertiary Structures - Animation

For a complete list of videos, visit our video library