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Author Question: A monopolistically competitive firm will: a. maximize profits by producing where MR = MC. b. not ... (Read 69 times)

kfurse

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  • Posts: 590
on: Jun 30, 2018
A monopolistically competitive firm will:
 a. maximize profits by producing where MR = MC.
  b. not likely earn an economic profit in the long run.
  c. shut down if price is less than average variable cost.
  d. all of these.

Question 2

The ratio of the price of good X on the horizontal axis to the price of good Y on the vertical axis is the ____ of the budget line.
 a. marginal rate
  b. slope
  c. marginal utility
  d. equalization rate


ecabral0

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  • Posts: 310
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

b


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