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Author Question: If a monopolistically competitive firm can earn a profit, it will increase production until: a. MR ... (Read 57 times)

ARLKQ

  • Hero Member
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  • Posts: 571
on: Jun 30, 2018
If a monopolistically competitive firm can earn a profit, it will increase production until:
 a. MR > AVC.
  b. MR = ATC.
  c. MC > MR.
  d. MR = AR.
  e. MR = MC.

Question 2

Cash payments to a steel mill for steel used in production would be an example of:
 a. sunk costs.
  b. fixed costs.
  c. explicit costs.
  d. implicit costs.
  e. entrepreneurial costs.


sabina576

  • Sr. Member
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  • Posts: 356
Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

c


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