In the long run, a monopolistic competitor: a. earns a normal ...

[ARLKQ]

In the long run, a monopolistic competitor:
 a. earns a normal rate of return.
 b. sells a level of output at which marginal revenue is less than price.
  c. sells a level of output at which marginal revenue equals marginal cost.
  d. is characterized by all of the above.

Question 2

Suppose the yen value of a 100,000 wheat import contract rises from 12,000,000 to 13,000,000 between the contract and the payment date. This implies that the yen value of 1 dollar has declined so that, other things equal, we can expect an increase in Japanese demand for U.S. goods.
 a. True
  b. False
  Indicate whether the statement is true or false

[shaquita]

Answer to Question 1

d

Answer to Question 2

False

[ARLKQ]

Thanks for the timely response, appreciate it

[skipfourms123]

Gracias!