4. Which of the following pairs are both competitionlike elements in monopolistic competition? a. Price exceeds MR;
Question:
4. Which of the following pairs are both “competitionlike elements” in monopolistic competition?
a. Price exceeds MR; standardized product.
b. Entry is relatively easy; only a normal profit in the long run.
c. Price equals MC at the profit-maximizing output; economic profits are likely in the long run.
d. The firms’ demand curve is downsloping; differentiated products.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answered By
FREDRICK MUSYOKI
Professional Qualities:
Solution-oriented.
Self-motivated.
Excellent problem-solving and critical thinking skills.
Good organization, time management and prioritization.
Efficient troubleshooting abilities.
Tutoring Qualities:
I appreciate students as individuals.
I am used to tailoring resources for individual needs.
I can integrate IT into student's lessons.
I am good at explaining concepts.
I am able to help students progress.
I have a wide curriculum knowledge.
1+ Reviews
10+ Question Solved
Related Book For 
Economics Principles Problems And Policies
ISBN: 9780073511443
19th Edition
Authors: Campbell Mcconnell ,Stanley Brue ,Sean Flynn
Question Posted:
