Question

for a monopolistically competiitive firm in long run equilibrium: A. mr=mc B. number if firms and...

for a monopolistically competiitive firm in long run equilibrium:
A. mr=mc
B. number if firms and products is constant
C. economic profit is zero
D. the average total cost curve is tangent to the demand curve at the quantityat which the marginal revenue curve intersects marginal cost curve
E. all of the above

Homework Answers

Answer #1

Hence , Option "E" is corre that is all of the above.

Thankyou
Please rate thimbs up.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Which of the following statements regarding the long run for a profit-maximizing monopolistically competitive firm is...
Which of the following statements regarding the long run for a profit-maximizing monopolistically competitive firm is FALSE? A) The firm is making zero economic profit. B) The firm produces the quantity of output for which marginal revenue equals marginal cost. C) The average total cost equals the price. D) The firm produces the quantity at which the marginal revenue curve intersects the demand curve.
32.   The relationship that indicates that the perfectly competitive firm in long-run equilibrium is economically efficient...
32.   The relationship that indicates that the perfectly competitive firm in long-run equilibrium is economically efficient is that A.   long-run marginal cost equals long-run average cost at long-run average cost’s lowest value. B.   the typical firm earns neither economic profits nor economic losses. C.   marginal benefit equals long-run marginal cost. D.   demand equals marginal revenue equals average revenue equals price. 33.   The perfectly competitive lobster market is in long-run equilibrium. Following an increase in demand we would expect the typical...
2. Why is it the case in a long-run monopolistically competitive equilibrium that the firm’s demand...
2. Why is it the case in a long-run monopolistically competitive equilibrium that the firm’s demand curve is tangent to its average cost curve? Why could it not be a long-run equilibrium if the demand curve “cut through” the average cost curve?
Which of the following is most likely produced in a monopolistically competitive market? a. Automobiles b....
Which of the following is most likely produced in a monopolistically competitive market? a. Automobiles b. Wheat c. Oil d. Fast food e. Soybeans Oligopolists are more sensitive to the pricing and output policies of their rivals when: a. there are many firms in the industry. b. all firms produce identical products. c. there are barriers to entry. d. there is freedom of entry and exit. e. their products are highly differentiated. It is harder to explain the behavior of...
Long-run equilibrium in a monopolistically competitive market is similar to long-run equilibrium in a perfectly competitive...
Long-run equilibrium in a monopolistically competitive market is similar to long-run equilibrium in a perfectly competitive market in that in both markets, firms produce where price equals marginal cost. produce at the minimum point of their average total cost curves. break even. produce where price equals marginal revenue.
In the long run, monopolistically competitive firms _______. 1) produce output at a minimum marginal cost....
In the long run, monopolistically competitive firms _______. 1) produce output at a minimum marginal cost. 2) face perfectly elastic demand curves. 3) earn both positive accounting amd economic profits. 4) earn zero economic profit but positive accounting profit. 5) merge and form a few dominant firms to maximize profit.
Which of the following conditions is characteristic of a monopolistically competitive firm in long-run equilibrium? P...
Which of the following conditions is characteristic of a monopolistically competitive firm in long-run equilibrium? P > MC, P = ATC, and MR = MC P > MC, P > ATC, and MR = MC P < MC, P > ATC, and MR < MC P < MC, P = ATC, and MR = MC
In the long run equilibrium for a monopolistically competitive firm, Group of answer choices P =...
In the long run equilibrium for a monopolistically competitive firm, Group of answer choices P = MC P = ATC, and the firm will be at the minimum of the ATC curve P = ATC, but the firm will not be at the minimum of the ATC curve P < MC
For monopolistically competitive firms is it always likely in the long-run to have zero-economic profit? Monopolistically...
For monopolistically competitive firms is it always likely in the long-run to have zero-economic profit? Monopolistically competitive firms in the long-run
What is ment by the zero profit equilibrium for monopolistically competitive firms? and why is the...
What is ment by the zero profit equilibrium for monopolistically competitive firms? and why is the demand curve a tangent to its ATC curve?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT