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 67 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
Gracias!

vickyvicksss

  • Member
  • Posts: 351
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
Profit-maximizing Chart Profit-maximizing Chart
Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition
A company that sells sweatshirts finds that the profit can be modelled by P(s)= ... A company that sells sweatshirts finds that the profit can be modelled by P(s)= ...
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 ...
Competitive firms and maximization Competitive firms and maximization
Video: Passive Smoke Exposure

For a complete list of videos, visit our video library