« previous next »

Author Question: Which of the following is ALWAYS true regarding a profit maximizing monopolistically competitive ... (Read 84 times)

future617RT

  • Hero Member
  • *****
  • Posts: 543
on: Jun 29, 2018
Which of the following is ALWAYS true regarding a profit maximizing monopolistically competitive firm in short-run equilibrium?
 
  A) P = ATC.
  B) P = MR.
  C) MR = MC.
  D) MC = ATC.

Question 2

The ABC Nail Company has entered into a collusive agreement with the other firm in the industry, the DC Nail Company. What occurs in the nail industry if ABC decides to cheat on the agreement?
 
  A) ABC lowers the price of its nails.
  B) The total industry output increases.
  C) The total profits in the nail industry will decrease.
  D) All of the above answers are correct.


ong527

  • Sr. Member
  • ****
  • Posts: 285
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

future617RT

  • Hero Member
  • *****
  • Posts: 543
Reply #2 on: Jun 29, 2018
Thank you


ong527

  • Sr. Member
  • ****
  • Posts: 285
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

A true albino squirrel. Note the pink eyes. A true albino squirrel. Note the pink eyes.
Apparent and True Orbits of Alpha Centauri. Apparent and True Orbits of Alpha Centauri.
Competitive inhibition Competitive inhibition
Adapoids and omomyoids had longer snouts and are the first “true” primates. Adapoids and omomyoids had longer snouts and are the first “true” primates.
Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition
Competitive firms and maximization Competitive firms and maximization
Video: TRH/TSH/Thyroid hormone

For a complete list of videos, visit our video library