In the long run, a firm in monopolistic competition has its price ...

[cookcarl]

In the long run, a firm in monopolistic competition has its price equal to ________ and also has its price ________.
 
  A) marginal cost; exceeding its average total cost.
  B) marginal cost; equal to its average total cost
  C) average total cost; exceeds its marginal cost
  D) average total cost; less than its marginal cost

Question 2

If the combination of goods consumed at point C is preferred to combination D then
 
  A) point C is on a higher indifference curve.
  B) point C is on the same indifference cure but at a point where the vertical axis value is greater than point D's vertical axis value.
  C) point C is on a lower indifference curve.
  D) point C is on the same indifference curve but at a point where the horizontal axis value is greater than point D's horizontal axis value.

[leahm14]

Answer to Question 1

C

Answer to Question 2

A

[cookcarl]

Thank you

[leahm14]

No problemo