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 98 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?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Did you know?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

The U.S. Long-Term Ecological Research (LTER) network. The U.S. Long-Term Ecological Research (LTER) network.
Components of a long bone. The entire long bone is on the left side accompanied by a blowup of the p Components of a long bone. The entire long bone is on the left side accompanied by a blowup of the p
Theory of Mind Theory of Mind
Applying Signal Detection Theory Applying Signal Detection Theory
A cutaway of a typical water pump showing the long bearing assembly and the seal. The weep hole is ... A cutaway of a typical water pump showing the long bearing assembly and the seal. The weep hole is ...
European swimming competition European swimming competition
Video: Transcription—A molecular view

For a complete list of videos, visit our video library