« previous next »

Author Question: In the long run, in the model of monopolistic competition, for a typical firm, price is a. above ... (Read 77 times)

jayhills49

  • Hero Member
  • *****
  • Posts: 559
on: Jul 1, 2018
In the long run, in the model of monopolistic competition, for a typical firm, price is
 a. above average cost but equal to marginal cost.
  b. above marginal cost but equal to average cost.
  c. above marginal cost.
  d. equal to marginal cost and equal to or greater than average cost.

Question 2

In the monopolistic competition model
 a. firms are price takers
  b. barriers to entry maintain some monopoly rents in the long run.
  c. one dominant firm acts as the monopolist that is followed by the fringe of competitors.
  d. none of these.


frre432

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

d


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

3D DNA Model 3D DNA Model
Model of a longitudinal study in which 983 students were surveyed in 1984 and then again in 1985, 19 Model of a longitudinal study in which 983 students were surveyed in 1984 and then again in 1985, 19
Typical secondary ignition oscilloscope pattern. Typical secondary ignition oscilloscope pattern.
An EPSP, and IPSP, and an EPSP followed by a typical AP. An EPSP, and IPSP, and an EPSP followed by a typical AP.
A model for the RuvA-RuvB-Holliday junction structure A model for the RuvA-RuvB-Holliday junction structure
Model for ecosystems on land Model for ecosystems on land
Video: Eczema

For a complete list of videos, visit our video library