In the short run both the monopolistically competitive firm and ...

[Brittanyd9008]

In the short run both the monopolistically competitive firm and the perfectly competitive firm will charge a price equal to marginal cost.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

A bus is mostly filled with passengers and ready to travel from Los Angeles to San Francisco. At the last minute, a person comes running up to the bus and takes a seat. The change in the bus company's total cost as a result of transporting one more passenger on this trip is called:
 a. marginal cost.
  b. average total cost.
  c. variable cost.
  d. fixed cost.
  e. opportunity cost.

[AISCAMPING]

Answer to Question 1

False

Answer to Question 2

a

[Brittanyd9008]

Thanks for the timely response, appreciate it

[triiciiaa]

Excellent