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Author Question: In the long run, a monopolistic competitive firm will operate at a price which: a. is higher than ... (Read 10 times)

nmorano1

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on: Jun 30, 2018
In the long run, a monopolistic competitive firm will operate at a price which:
 a. is higher than minimum long-run average cost.
  b. equals minimum long-run average cost.
  c. equals marginal cost.
  d. none of these.

Question 2

Consumer equilibrium occurs at:
 a. any point of intersection between the budget line and an indifference curve.
  b. a point of tangency between the budget line and an indifference curve.
  c. the point where the slope of the indifference curve equals the ratio of the quantities.
  d. a point where the budget line cuts the curve from below.


daiying98

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

b


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