Author Question: In the model of monopolistic competition, compared to a firm with a lower marginal cost, a firm with ... (Read 83 times)

tiffannnnyyyyyy · **on:** Jun 30, 2018

In the model of monopolistic competition, compared to a firm with a lower marginal cost, a firm with a higher marginal cost will set a ________ price, produce ________ output, and earn ________ profits.

A) higher; less; less
B) lower; more; more
C) higher; more; more
D) lower; less; less
E) higher; less; more

Question 2

In 2003, the per-capita income in China was roughly ________ of that in the U.S.

A) one hundredth
B) one eighth
C) one half
D) the same as
E) one twentieth