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tantoine2704
17.01.2020 •
Business
Amonopolistically competitive fim doesn't produce where p = mc like a perfectly competitive firm because:
a. the approach to profit maximization used by monopolistically competitive firms is fundamentally different from the approach used by firms in other markets
b. perfectly competitive firms face downskoping demand curves and monopolistically competitive firms do not.
c. p exceeds mr for a monopolistically competitive firm, and i's mr that must equal mc for profift maximization
d. perfectly competitive firms know the price with certainty while monopollstically competitive firms do not
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Ответ:
C) P exceeds MR for a monopolistically competitive firm, and i's MR that must equal MC for profift maximization
Explanation:
Monopolistically competitive firm sell differentiated products and face a downward-sloping demand curve. That is why the price of their product exceeds their marginal costs. If the price was lowered, the firm would get less revenue for previous units as well. Monopolistically competitive firms and their customers are not price takers, therefore if the firm increases their prices too much, then the quantity demanded will fall.
So a monopolistically competitive firm will maximize their profit when marginal revenue = marginal cost, as long as price exceeds marginal revenue.
Ответ:
That statement is false
Due to the development of internet, more careers start to created that require people to work internationally. In general, companies in developed country tend to favour hiring workers from another country since they can pay lower amount of labour expense.