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

Author Question: In the short run both the monopolistically competitive firm and the perfectly competitive firm will ... (Read 136 times)

Brittanyd9008

  • Hero Member
  • *****
  • Posts: 500
In the short run both the monopolistically competitive firm and the perfectly competitive firm will charge a price equal to marginal cost.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

A bus is mostly filled with passengers and ready to travel from Los Angeles to San Francisco. At the last minute, a person comes running up to the bus and takes a seat. The change in the bus company's total cost as a result of transporting one more passenger on this trip is called:
 a. marginal cost.
  b. average total cost.
  c. variable cost.
  d. fixed cost.
  e. opportunity cost.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

AISCAMPING

  • Sr. Member
  • ****
  • Posts: 347
Answer to Question 1

False

Answer to Question 2

a




Brittanyd9008

  • Member
  • Posts: 500
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)


komodo7

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Gracias!

 

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

For a complete list of videos, visit our video library