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

Author Question: The theory of monopolistic competition predicts that in long-run equilibrium a monopolistically ... (Read 37 times)

ec501234

  • Hero Member
  • *****
  • Posts: 573
on: Jun 30, 2018
The theory of monopolistic competition predicts that in long-run equilibrium a monopolistically competitive firm will:
 a. produce at the level in which price equals long-run average cost.
  b. operate at minimum long-run average cost.
  c. overutilize its insufficient capacity.
  d. none of these.

Question 2

The slope of the budget line is equal to the ratio of:
 a. marginal utilities.
  b. money income to the price of the good on the horizontal axis.
  c. money income to the price of the good on the vertical axis.
  d. price of the good on the horizontal axis to the price of the good on the vertical axis.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

zoeyesther

  • Sr. Member
  • ****
  • Posts: 315
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

d


ec501234

  • Hero Member
  • *****
  • Posts: 573
Reply #2 on: Jun 30, 2018
Thank you :)


zoeyesther

  • Sr. Member
  • ****
  • Posts: 315
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Did you know?

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

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Wilson and Simberloff's experiments on the equilibrium model of biogeography. Wilson and Simberloff's experiments on the equilibrium model of biogeography.
Competition can be (a) direct, or (b) indirect interaction among individuals of the same or differen Competition can be (a) direct, or (b) indirect interaction among individuals of the same or differen
Leininger's Culutral Care Theory Leininger's Culutral Care Theory
Two-Factor Theory Two-Factor Theory
Long-range forecasts Long-range forecasts
Apply long effleurage stroke to entire arm, from hand to shoulder. Brush off from shoulder to hand. ... Apply long effleurage stroke to entire arm, from hand to shoulder. Brush off from shoulder to hand. ...
Video: Control of ventilation rate by other brain centers (posts, hypothalamus & cerebral cortex)

For a complete list of videos, visit our video library