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Author Question: Suppose a monopolistically competitive firm decides to raise its price in response to an increase in ... (Read 62 times)

Adc3669

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Question 1

A monopolistically competitive firm maximizes profits in the short run
◦ by equating MC with price.
◦ by equating MC with MR.
◦ when P = ATC.
◦ by maximizing total revenue.
◦ when P = AVC.

Question 2

Suppose a monopolistically competitive firm decides to raise its price in response to an increase in its costs. The theory of monopolistic competition predicts that
◦ this firm would increase its profits.
◦ increasing the price has no effect on profits.
◦ this firm would lose none of its customers.
◦ this firm would lose all of its customers.
◦ this firm would lose some, but not all of its customers.


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Marked as best answer by Adc3669 on Oct 12, 2022

MajorWaffle

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Adc3669

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)


mohan

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Reply 3 on: Yesterday
Gracias!

 

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