Product differentiation in monopolistically competitivemarkets ensures that for

Question

Product differentiation in monopolistically competitivemarkets ensures that for profit maximizing firms a.marginal revenue will equal average total cost b.price will exceed marginal cost. c.marginal cost will exceed average revenue d.average variable cost will be declining. Product differentiation in monopolistically competitivemarkets ensures that for profit maximizing firms a.marginal revenue will equal average total cost b.price will exceed marginal cost. c.marginal cost will exceed average revenue d.average variable cost will be declining.

Explanation / Answer

d.average variable cost will be declining

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