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April 19, 2014

Homework Help: Micro Economics

Posted by Joseycat on Saturday, February 14, 2009 at 3:03pm.

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

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