In monopolistic competition ______.
1.to maximize profits MR = MC, yet P > MC
2.people would be better off if output were reduced
3.output could be increased without an increase in total cost
4.A and B are true
Because monopolistically competitive firms charge a P > MC ______. 1. monopolistic competition is efficient
2. monopolistic competition is inefficient
3. the marginal benefit to society of an additional unit of output is below its cost
4. B and C are true
2 answers
Do a little research then take a shot. What do you think?
people would be better off if output were reduced
1 answer