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

Author Question: The theory of monopolistic competition predicts that in long-run equilibrium a monopolistically ... (Read 39 times)

ec501234

  • Hero Member
  • *****
  • Posts: 573
on: Jun 30, 2018
The theory of monopolistic competition predicts that in long-run equilibrium a monopolistically competitive firm will:
 a. produce at the level in which price equals long-run average cost.
  b. operate at minimum long-run average cost.
  c. overutilize its insufficient capacity.
  d. none of these.

Question 2

The slope of the budget line is equal to the ratio of:
 a. marginal utilities.
  b. money income to the price of the good on the horizontal axis.
  c. money income to the price of the good on the vertical axis.
  d. price of the good on the horizontal axis to the price of the good on the vertical axis.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

zoeyesther

  • Sr. Member
  • ****
  • Posts: 315
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

d


ec501234

  • Hero Member
  • *****
  • Posts: 573
Reply #2 on: Jun 30, 2018
Thank you :)


zoeyesther

  • Sr. Member
  • ****
  • Posts: 315
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

The roles of transpiration, cohesion, adhesion, and tension in long-distance water transport. The roles of transpiration, cohesion, adhesion, and tension in long-distance water transport.
Connell's experimental manipulation of species indicated the presence of competition. Connell's experimental manipulation of species indicated the presence of competition.
Associative Long-Term Potentiation Associative Long-Term Potentiation
The Triangular Theory of Love The Triangular Theory of Love
Big Bang Theory Big Bang Theory
Long division of polynomials Long division of polynomials
Video: Mendel's pea plant, Pisum sativum experimental

For a complete list of videos, visit our video library