In monopolistic competition, in the long run firms produce A) ...

[LaDunn]

In monopolistic competition, in the long run firms produce
 
  A) less output than that which minimizes their ATC.
  B) more output than that which minimizes their ATC.
  C) the amount of output that minimizes their ATC and their AVC.
  D) the amount of output that minimizes their ATC but not their AVC.

Question 2

As the Federal Trade Commission currently interprets the Herfindahl-Hirschman index (HHI), an industry is considered to be highly concentrated if the HHI value is above
 
  A) 100.
  B) 1,000.
  C) 2,500.
  D) 5,000.

[olivia_paige29]

Answer to Question 1

A

Answer to Question 2

C

[LaDunn]

TYSM

[Jossy]

Excellent