« previous next »

Author Question: In the long run, in the model of monopolistic competition, for a typical firm, price is a. above ... (Read 73 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?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Long-day stimulation of flower development in Arabidopsis. Long-day stimulation of flower development in Arabidopsis.
Amsterdam Albatross - Adult in flight, showing dark plumage typical of the species. Amsterdam Albatross - Adult in flight, showing dark plumage typical of the species.
Induced-fit model of enzyme activity. Induced-fit model of enzyme activity.
Typical engine analyzer hookup that includes a scope display. (1) Coil wire on top of the ... Typical engine analyzer hookup that includes a scope display. (1) Coil wire on top of the ...
The leaky-barrel model: a settling-point model of eating and body weight homeostasis. The leaky-barrel model: a settling-point model of eating and body weight homeostasis.
DNA-Z computer model DNA-Z computer model
Video: Secretin (inhibiting gastric acid secretion), Cholecystokinin (fat digestion) & Cholecystokinin

For a complete list of videos, visit our video library