Author Question: In the long run, marginal cost must equal marginal revenue for a monopolistic competitive firm, but ... (Read 42 times)

Brittanyd9008 · **on:** Jun 30, 2018

In the long run, marginal cost must equal marginal revenue for a monopolistic competitive firm, but not at the minimum point of the long-run average cost curve.
a. True
b. False
Indicate whether the statement is true or false

Question 2

If fixed cost is 200,000 and variable cost is 30 per unit over the relevant range of output, when 10,000 units are produced, the average total cost will be:
a. 20.
b. 30.
c. 50.
d. 70.