The Figure Given Below Shows the Revenue and Cost Curves

question 35

Multiple Choice

The figure given below shows the revenue and cost curves of a monopolistically competitive firm.Figure 12.4
MR: Marginal revenue curve
ATC: Average total cost curve
MC: Marginal cost curve
-Strategic behavior occurs when:

• A)there are a large number of firms selling identical products.
• B)there is only one firm in the market.
• C)the firms have no command over the prices of the good they produce.
• D)the firms can take any decision irrespective of what their rival does.
• E)what is best for a firm depends on what his rival does.

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Definitions:

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Part of the mind that is inaccessible to the conscious mind but that affects behavior and emotions.

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