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

Author Question: A profit-maximizing firm in monopolistic competition should shut down in the short run a. if ... (Read 98 times)

jparksx

  • Hero Member
  • *****
  • Posts: 570
on: Jun 30, 2018
A profit-maximizing firm in monopolistic competition should shut down in the short run
 a. if marginal revenue is less than price
  b. if price is always less than average total cost
  c. if price is always less than average fixed cost
  d. if price is always less than average variable cost
  e. under no circumstances

Question 2

A good that is neither rival nor exclusive is called
 a. a private good
  b. a public good
  c. a quasi-private good
  d. an external good
  e. an open access good


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

SomethingSomething

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

B


jparksx

  • Member
  • Posts: 570
Reply 2 on: Jun 30, 2018
:D TYSM

FergA

  • Member
  • Posts: 352
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

An example of genetic homology: a comparison of a short amino acid sequence within the p53 protein f An example of genetic homology: a comparison of a short amino acid sequence within the p53 protein f
Competition in a forest can be as intense as competition on a coral reef. However, much of the compe Competition in a forest can be as intense as competition on a coral reef. However, much of the compe
J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
Greet a First-Time Client With a Firm Handshake. Greet a First-Time Client With a Firm Handshake.
Biking competition in the park Biking competition in the park
A company that sells sweatshirts finds that the profit can be modelled by P(s)= ... A company that sells sweatshirts finds that the profit can be modelled by P(s)= ...
Video: Exocytosis - secretion

For a complete list of videos, visit our video library