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Monopolistic competition

  • 19-05-2010 10:30pm
    #1
    DeadMoney
    Registered Users, Registered Users 2 Posts: 1,127 ✭✭✭


    Hi, I have a big economics exam this week and one of the questions in my notes is about the equilibrium production for a firm in monopolistic competition?

    MCQ:
    Is the equilibrium production where:
    1 the average costs are minimized
    2 there are increasing returns to scale
    3 there are decreasing returns to scale
    4 Average costs are equal to marginal revenue

    We hadn't covered much on this topic so really not sure.


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