Billy Is Running a Fast-Food Burger Stand in His Small

question 12

Multiple Choice

Billy is running a fast-food burger stand in his small community.If he is like other monopolistic competitors in short-run equilibrium which of the following would be true?

• A) His demand curve would be downward sloping.
• B) His marginal revenue curve would lie below his demand curve.
• C) He would be maximizing profits where his MC = MR.
• D) All of the above would be characteristics of Billy's burger stand.

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