If marginal costs are constant at $6, what is the profit-maximizing monopolist price? Explain why any firm maximizes profit or minimizes losses when marginal cost is equal to marginal revenue. Why is profit maximization given by marginal cost equals marginal r...
Marginal revenue is the rate of change in the total revenue based of the addition of one extra unit of output. The marginal revenue is the per unit gain in revenue. The marginal revenue at a specific volume of output is the unit re...
94、边际支出曲线(Manginal expenditure curve) 边际支出曲线表示厂商增加 1 单位投人品 X 所引起的成本的增加。 95、边际产品(Marginal product) 边际产品是指由于增加最后一单位某种投入品(其他投入品的数量保持不变)所带来的总产量的增加。 96、边际产品转换率(Marginal rate of product transformation) 边际产品...
(Manginal expenditure curve) 95、边际产品(Marginal product) 96、边际产品转换率(Marginal rate of product transformation) 97、边际替代率(Marginal rate of substitution) 98、边际收益(Marginal revenue) 99、边际收益产品(Marginal revenue product) 100、边际效用( Marginal utility) 101、市场(Market) 102、...
As firms enter a monopolistically competitive market in the long run:When a second firm enters a monopolist's market,the monopolist's marginal revenue curve will:A) shift to the left as its initial demand curve shifts to the left.B) shift to the right as its initial demand curve shifts ...
(3) In monopolistic competition, each firm’s marginal revenue curve lies ___ its demand curve because of ___.A) below ; barriers to entry B) below; product differentiation C) above; barriers to entry D) above; product differentiation (4 ) In monopolistic competition, each firm has a de...
True or False: Monopolistic competitors are protected by barriers to entry. If all of the firms in an oligopoly successfully collude and form a cartel, then the total profit for the cartel is equal to what it would be if the market were a monopoly. a. True b. False ...
the firm’s demand curve is a horizontal line drawn at the market price level. This also means that the firm’s marginal revenue curve is the same as the firm’s demand curve: Every time a consumer demands one more unit, the firm sells one more unit and revenue increases by exactly the...
Each firm is on the falling branch of its unit cost curve, whereas in the competitive case each firm was actually producing at locally constant costs. The difficult problem remains of introducing monopolistic competition into aggrega- tive models. For example, the value-of-marginal-product ...
a. True b. False True or false? If the demand curve faced by a firm is downward sloping and the market price of the product is above the marginal cost of production, not enough of the economy's resources are being allocated to producin...