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Author Question: A profit-maximizing monopolistically competitive firm will expand output to the point where: a. ... (Read 50 times)

robinn137

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on: Jun 30, 2018
A profit-maximizing monopolistically competitive firm will expand output to the point where:
 a. total revenue equals total cost.
  b. marginal revenue equals marginal cost.
  c. price equals average total cost.
  d. price equals marginal cost.

Question 2

The slope of an indifference curve is equal to the ratio of the ____ of the good on the horizontal axis to the ____ of the good on the vertical axis.
 a. marginal utility (MU); marginal utility (MU)
  b. total utility (TU); total utility (TU)
  c. marginal product (MP); marginal product (MP)
  d. price (P); total utility (TU)


dellikani2015

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

b

Answer to Question 2

a


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