This topic contains a solution. Click here to go to the answer

Author Question: A monopolistic competitive firm is inefficient because the firm: a. is not maximizing its profit. ... (Read 68 times)

Marty

  • Hero Member
  • *****
  • Posts: 553
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
Answer to Question 1

b

Answer to Question 2

d




Marty

  • Member
  • Posts: 553
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)


fatboyy09

  • Member
  • Posts: 358
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

For a complete list of videos, visit our video library