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Q: The difference between a perfectly competitive firm and a monopolistically competitive firm is that a monopolistically competitive firm faces a A. horizontal demand curve and price equals marginal
cost in equilibrium B. horizontal demand curve and price exceeds marginal cost in equilibrium C. downward-sloping demand curve and price equals marginal cost in equilibrium D. downward-sloping demand curve and price exceeds marginal cost in equilibrium
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User: The difference between a perfectly competitive firm and a monopolistically competitive firm is that a monopolistically competitive firm faces a A. horizontal demand curve and price equals marginal cost in equilibrium B. horizontal demand curve and price exceeds marginal cost in equilibrium C. downward-sloping demand curve and price equals marginal cost in equilibrium D. downward-sloping demand curve and price exceeds marginal cost in equilibrium

User: As long as marginal cost is below marginal revenue, a perfectly competitive firm should A. increase production B. hold production constant C. decrease production D. reconsider past production decisions

User: Because a monopolistic competitor has some monopoly power, advertising to increase that monopoly power makes sense as long as the marginal A. benefit of advertising is positive B. cost of advertising is positive C. benefit of advertising exceeds the marginal cost of advertising D. cost of advertising exceeds the marginal benefit of advertising

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Asked 5/13/2012 5:04:39 PM
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