« previous next »

Author Question: Which of the following statements is CORRECT for a monopolistically competitive firm in the short ... (Read 108 times)

cnetterville

  • Hero Member
  • *****
  • Posts: 547
on: Jun 29, 2018
Which of the following statements is CORRECT for a monopolistically competitive firm in the short run?
 
  A) Its total revenue is maximized.
  B) Its total fixed cost is 0.
  C) Its marginal cost is equal to its marginal revenue.
  D) Its price is equal to its marginal cost.

Question 2

Ernie's Earmuffs produces 200 earmuffs per year at a total cost of 2,000 and 400 of this cost is fixed. If he increases output to 220 earmuffs, his total cost increases to 2100, and his fixed cost remains 400.
 
  What is Ernie's marginal cost per earmuff? A) 105
  B) 35
  C) 9.55
  D) 5


bbburns21

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

A 3-tonne (3.0-long-ton; 3.3-short-ton) great white shark off Isla Guadalupe A 3-tonne (3.0-long-ton; 3.3-short-ton) great white shark off Isla Guadalupe
How lenses correct visual problems: (A) emmetropia; (B) myopia; (C) hyperopia; (D) corrected myopia; ... How lenses correct visual problems: (A) emmetropia; (B) myopia; (C) hyperopia; (D) corrected myopia; ...
Correct alignment for stacking the joints to apply thumb pressure to acupoints. Correct alignment for stacking the joints to apply thumb pressure to acupoints.
Examples of Mission Statements Examples of Mission Statements
Project Management: Achieving Competitive Advantage Project Management: Achieving Competitive Advantage
Competitive firms and maximization Competitive firms and maximization
Video: Smoking Cessation

For a complete list of videos, visit our video library