You Save $10 on Gas Every Week Because You Take

question 139

Multiple Choice

You save $10 on gas every week because you take the bus to school. You have class 5 days a week. What is your average benefit per day of taking the bus to school?

• A)$10
• B)$5
• C)$2
• D)$0

Explain entry and exit dynamics in long-run market equilibrium.

Understand the concept of short-run and long-run equilibria in monopolistic competition.

Determine the efficient scale of production for a monopolistically competitive firm.

Assess the impact of firm behavior on profits in different market structures.

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