The ability to set a price greater than marginal cost guarantees an economic profit for the monopolistic competitor.
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1.The ability to set a price greater than marginal cost guarantees an economic profit for the monopolistic
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2.When monopolistic profit has been maximized, its marginal cost is ___ than its marginal revenue.
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3.When marginal cost is greater than average cost, average cost decreases.
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4.profit-maximizing firm in a competitive market discovers that, at its current level of production, price
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5.When an enterprise realizes profit maximization, the relationship between price and marginal cost is
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6.competitive firm, both, or neither. a. sells a product differentiated from that of its competitors b. has marginal
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7.When marginal cost is less than average cost,
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8.Given that the amount of inventory purchased are greater from used,When price goes up, The cost under
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9.In the long run under monopolistic competition, when firms advertise, they can earn positive economic
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10.In a contestable market, If the incumbent charges the monopoly price PM and earns a positive economic