In the production of corn, millions of farmers world-wide are ________, so there is ________ on economic profits to go to zero.

a - oligopolists; no pressure

b - perfect competitors; pressure

c - monopolists; no pressure

d - oligopolists; pressure

The firm's supply curve is their

a - marginal cost curve above the minimum of ATC.

b - marginal cost curve above the minimum of AVC.

c - the upward sloping portion of the marginal cost curve.

d - the entire marginal cost curve.

What moves when there is entry in monopolistic competition?

a - The supply curve

b - The demand curve only

c - The demand curve and the marginal revenue curve

d - The marginal revenue curve only

The firm's supply curve is made up of the

a - points where MC=MR.

b - points where MC=MR, and they make a profit.

c- points where MC=MR, and they at least breakeven.

d- points where MC=MR above the minimum of AVC.