This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A monopolistic competitive firm is inefficient because the firm: a. is not maximizing its profit. ... (Read 55 times)

Marty

  • Hero Member
  • *****
  • Posts: 553
on: Jun 30, 2018
A monopolistic competitive firm is inefficient because the firm:
 a. is not maximizing its profit.
  b. is producing at an output where average total cost is not minimum.
  c. earns positive economic profit in the long run.
  d. none of these.

Question 2

Only at the point of consumer equilibrium does the marginal rate of substitution (MRS) equal the:
 a. slope of the budget line.
  b. slope of the indifference curve.
  c. price ratio.
  d. all of these.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Anna

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

d


Marty

  • Member
  • Posts: 553
Reply 2 on: Jun 30, 2018
Excellent

tuate

  • Member
  • Posts: 332
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Rebound Tenderness, Apply Firm Pressure to the Abdomen Rebound Tenderness, Apply Firm Pressure to the Abdomen
Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ... Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ...
Profit-maximizing Chart Profit-maximizing Chart
Competitive inhibitor Competitive inhibitor
Inefficient irrigation wastes water Inefficient irrigation wastes water
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
Video: Acid-base imbalances - metabolic acidosis and alkalosis

For a complete list of videos, visit our video library