ethancarter560
11.12.2019 •
Business
Agro, inc., sells seed to farmers. bram buys and plants agro seed on his farm, but no crop grows because the seed is defective. bram sues agro for product liability based on negligence. to win, bram must show that
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Ответ:
c. firms do not operate at the output that minimizes average costs.
Explanation:
Monopolistic competition is when suppliers sell products that are similar but not equal and they are not perfect substitutes. This type of market is inneficient because companies operate at a profit maximizing output that is less than the output where they have the minimum average cost. According to this, the answer is that the traditional view of monopolistic competition holds that this type of industrial structure is inefficient because firms do not operate at the output that minimizes average costs as they work with excess capacity with an output in which they can maximize their profit.