An important difference between the situation faced by a profit-maximizing monopolistically competitive firm in the short run and the situation faced by that same firm in the long run is that in the short run:.
A. price may exceed marginal cost, but in the long run, price equals marginal cost.
B. there are many firms in the market, but in the long run, there are only a few firms in the market.
C. price may exceed marginal revenue, but in the long run, price equals marginal revenue.
D. price may exceed average total cost, but in the long run, price equals average total cost.
Answers: 2
Business, 21.06.2019 22:20
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Answers: 1
Business, 22.06.2019 22:20
Which of the following is one disadvantage of renting a place to live compared to buying a home? a. tenants have to pay for all repairs to the building. b. the landlord covers the expenses of maintaining the property. c. residents can't alter their living space without permission. d. rent is generally more than monthly mortgage payments.
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Business, 23.06.2019 00:20
Firms like papa john’s, domino’s, and pizza hut sell pizza and other products that are differentiated in nature. while numerous pizza chains exist in most locations, the differentiated nature of these firms’ products permits them to charge prices above marginal cost. given these observations, is the pizza industry most likely a monopoly, perfectly competitive, monopolistically competitive, or an oligopoly industry?
Answers: 1
Business, 23.06.2019 00:30
Considered to be a "super tool" or tool that has high use and high potential for improving project success?
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An important difference between the situation faced by a profit-maximizing monopolistically competit...
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