The Markup of Price Over Marginal Cost of a Profit-Maximizing

question 40

Multiple Choice

The markup of price over marginal cost of a profit-maximizing firm in the long run is _____.

• A)higher in a perfectly competitive market than in a monopoly market
• B)higher in a monopoly market than in a monopolistically competitive market
• C)higher in a perfectly competitive market than in an oligopoly
• D)higher in a monopolistically competitive market than in a competitive market

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Definitions:

Serial Data Transmission

The process of transmitting data one bit at a time, sequentially, over a communication channel.

DC

Direct Current, a form of electrical current that flows in one direction, commonly used in batteries and electronic devices.

Output

Information sent from the processor to a connected device via some interface. The information could be in the form of control data that will signal some device such as a motor to switch on or off or to vary the speed of a drive.