which of the following is true of the relationship between price and marginal cost under monopolistic competition?
2007-05-22
07:17:46
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4 answers
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asked by
jn1
1
in
Social Science
➔ Economics
a. P=MC at all levels of output
b. P=MC only at the profit-maximizing quantity
c. P>MC at the profit-maximizing quantity
d. P
e. P
c
2007-05-22 11:39:21 · answer #1 · answered by econgal 5 · 0⤊ 0⤋
The answer is C. The qreater the quantity, the lower the marginal cost becomes while the price stays the same.
2007-05-22 14:52:25 · answer #2 · answered by Cowboy 2 · 0⤊ 0⤋
Cartel's set price high with demand
and output as low as possible to maximize profit.
2007-05-22 14:52:05 · answer #3 · answered by Giggly Giraffe 7 · 0⤊ 0⤋
1. Read your book
2. If you don't understand, ask your teacher.
3. Repeat
2007-05-22 14:23:44 · answer #4 · answered by Rob Lowe 2 · 0⤊ 0⤋