This topic contains a solution. Click here to go to the answer

Author Question: If a monopolistically competitive firm is in long-run equilibrium and average cost equals 150, then ... (Read 46 times)

asd123

  • Hero Member
  • *****
  • Posts: 557
If a monopolistically competitive firm is in long-run equilibrium and average cost equals 150, then the market price must be 150.
 a. True
  b. False

Question 2

The efficient level of public good provision is determined
 a. where the market demand curve intersects the marginal cost curve
  b. where the sum of individual valuations equals the sum of marginal costs
  c. without regard to economic factors
  d. where marginal revenue product equals marginal factor cost
  e. at the minimum point of the average total cost curve



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bitingbit

  • Sr. Member
  • ****
  • Posts: 323
Answer to Question 1

A

Answer to Question 2

A




asd123

  • Member
  • Posts: 557
Reply 2 on: Jun 30, 2018
Excellent


scikid

  • Member
  • Posts: 300
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

For a complete list of videos, visit our video library