33. A monopolistically competitive firm finds its profit-maximizing rate of outp

Question

33. A monopolistically competitive firm finds its profit-maximizing rate of output by equating
A) marginal revenue and marginal cost.
B) price and marginal cost.
C) average revenue and average total cost.
D) the marginal revenue of advertising with the marginal cost of advertising.
35. Unrestricted entry and exit into the market is found in
A) perfect competition, monopolistic competition and oligopoly.
B) monopolistic competition and oligopoly.
C) perfect competition and monopolistic competition.
D) perfect competition and oligopoly.

36. Retail trade is an example of
A) monopoly.
B) perfect competition.
C) oligopoly.
D) monopolistic competition.

Explanation / Answer

A,D,B

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