If there are large fixed costs,due to research and development,perfect competition does not generate new ideas,because:
A) firms need to recoup these costs through higher profits.
B) with monopolistic competition,prices are equal to the marginal cost plus a markup.
C) with monopolistic competition,prices are equal to the marginal cost minus a markup.
D) perfectly competitive firms always set prices lower than the marginal cost.
E) Both a and b are correct.
Correct Answer:
Verified
Q5: If Y is a good's output,X is
Q6: The markup is defined as:
A)the percentage of
Q6: Increasing returns to scale is characterized by:
A)
Q7: In economics,a rival good is one that:
A)cannot
Q8: Which of the following are nonrival goods?
A)a
Q11: Which of the following are (an)example(s)of idea(s)?
A)new
Q12: With the production function Q13: The production function Q15: Because, in many industries the cost of Q15: With the production function Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
