Firms in a monopolistically competitive market structure maximize ...

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Firms in a monopolistically competitive market structure maximize their profit by producing an output where:
 a. price equals average total cost.
  b. marginal cost equals average total cost.
  c. marginal cost equals price.
  d. marginal revenue equals marginal cost.

Question 2

A line that represents combinations of two goods that a consumer can purchase with a fixed income and given price for each good is called the:
 a. indifference curve.
  b. demand curve.
  c. budget line.
  d. money line.

[jrpg123456]

Answer to Question 1

d

Answer to Question 2

c

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Thanks for the timely response, appreciate it

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