The given statements refer to the pricing, economic efficiency, and resource allocation for monopolistically competitive firms. Label the statements as being either true or false. Each term is used more than once. Statement 1: Monopolistically competitive firms will produce where price=marginal revenue=marginal cost in the short run. Statement 2: Monopolistically competitive firms are inefficient in their use of resources since they produce at the point where marginal revenue=marginal cost, which means that price>marginal cost in the short run.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

your welcome leave a rate and a < 3

turnover

the amount of money taken by a business in a particular period.

answerangel investor;

answerup to (3) three years;