If a firm that uses a production process that yields economies of scale charges a price less than ,then profit will be .
A) marginal revenue; positive
B) marginal revenue; maximized
C) average cost; negative
D) marginal cost; positive
E) marginal cost; maximized
Correct Answer:
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Q7: Firms that produce products must be competitive.
A)standardized;
Q8: A monopolistic firm
A)will always earn a profit
Q9: Under oligopoly,firms' pricing policies are and,under monopolistic
Q10: Under the model of monopolistic competition,a(an)_ in
Q11: If a firm increases its output in
Q13: International trade based solely on internal scale
Q14: A firm in long- run equilibrium under
Q15: International trade based on external scale economies
Q16: The simultaneous export and import of widgets
Q17: When a country both exports and imports
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