Suppose a monopolistically competitive firm is producing 500 units of output and has total revenues of $5,000. If this i

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

Suppose a monopolistically competitive firm is producing 500 units of output and has total revenues of $5,000. If this i

Post by answerhappygod »

Suppose a monopolistically competitive firm is producing 500
units of output and has total
revenues of $5,000. If this is a long run equilibrium, then it must
be the case that
A) marginal cost is less than $10
B) minimum average total cost is less than $10
C) price is $10
D) all of the above
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”