A Monopolistically Competitive Firm Maximises Profit in the Short Run

question 130

Multiple Choice

A monopolistically competitive firm maximises profit in the short run by producing where

• A)price is less than marginal cost.
• B)price is less than marginal revenue.
• C)price is less than average revenue.
• D)price is greater than marginal cost.

---

Definitions:

Exclusively By Homemakers

Pertaining solely to individuals, typically women, who manage the household and do not engage in employment outside the home.

Cared For By Others

Being in a situation where one's needs, either due to age, illness, or disability, are attended to by someone else.

Role Strain

The stress or tension experienced by an individual when conflicting demands are made on their role in a social setting.

Effective Discipline

Methods and strategies used to teach children right from wrong, helping them to learn acceptable behavior and understand consequences.