Author Question: A monopolistically competitive firm, like a perfectly competitive firm, is a price taker. a. True ... (Read 189 times)

Zoey63294 · **on:** Jun 30, 2018

A monopolistically competitive firm, like a perfectly competitive firm, is a price taker.
a. True
b. False
Indicate whether the statement is true or false

Question 2

What is the shape of the average fixed cost curve for a firm in the short run?
a. U-shaped.
b. A curve that constantly increases as output expands and eventually approaches infinity at high rates of output.
c. A vertical line.
d. A curve that declines as output expands and approaches the horizontal-axis when output is large.