Author Question: Refer to Scenario 2.1. What is the equilibrium price of books? A) 5 B) 10 C) 15 D) 20 E) ... (Read 16 times)

pragya sharda · **on:** Jul 1, 2018

Refer to Scenario 2.1. What is the equilibrium price of books?

A) 5
B) 10
C) 15
D) 20
E) none of the above

Question 2

Which of the following is true in long-run equilibrium for a firm in a monopolistic competitive industry?

A) The demand curve is tangent to marginal cost curve.
B) The demand curve is tangent to average cost curve.
C) The marginal cost curve is tangent to average cost curve.
D) The demand curve is tangent to marginal revenue curve.