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809779

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Unlike a perfectly competitive firm, for a monopolistically competitive firm
 
  A) price  marginal cost for all output levels.
  B) price  average revenue for all output levels.
  C) price  marginal revenue for all output levels.
  D) marginal revenue = marginal cost at the profit-maximizing output.

Question 2

Which of the following is not a shortcoming of the concentration ratio as a measure of the extent of competition in an industry?
 
  A) Concentration ratios are calculated for the national market, even though the competition in some industries is mainly local.
  B) Concentration ratios do not address the fact that competition sometimes exists between firms in different industries.
  C) Concentration ratios assign weights to only the four largest firms in an industry.
  D) Concentration ratios do not include sales in the United States by foreign firms.


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joanwhite

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809779

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Reply 2 on: Jun 29, 2018
Wow, this really help


cassie_ragen

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Reply 3 on: Yesterday
Excellent

 

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