Business, 19.04.2021 15:50 NateTheBeast12

Which of the following is not characteristic of long-run equilibrium under monopolistic competition? Price equals minimum average total cost. marginal cost equals marginal revenue. Price is equal to average total cost. Price exceeds marginal cost.

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Answer from: hartzpeyton136

Price equals minimum average total cost.

Explanation:

A monopoly is a market structure which is typically characterized by a single-seller who sells a unique product in the market by dominance. This ultimately implies that, it is a market structure wherein the seller has no competitor because he is solely responsible for the sale of unique products without close substitutes.

Monopolistic competition can be defined as the market structure which comprises of elements of competitive markets (having many competitors) and monopoly.

Under monopolistic competition, organizations earn profits in the long-run equilibrium.

In long-run equilibrium under monopolistic competition, price does not equal minimum average total cost.

When a monopolistically competitive firm is in long-run equilibrium, marginal revenue is equal to marginal cost . This ultimately implies that in the long-run, firms engaging in monopolistic competitive market are often going to manufacture the quantity of goods where the marginal cost (MC) curve intersect with the marginal revenue (MR). Also, the price set would be greater than the minimum average total cost (ATC).

Answer from: Quest

wheres the chart? so i can answer.

Answer from: Quest

$527.7.if the following was the question $527.7 is the answer.students who are trying to raise funds have an agreement with a local pizza chain. the chain has agreed to sell them pizzas at a discount, which the students can then resell to families in the local community for a profit. it is expected that of the 500 families in the community, at most 70% will buy pizza. based on a survey of their personal preferences, the students believe that they should order no more than 120 cheese pizzas, no more than 150 pepperoni pizzas, and no more than 100 vegetarian pizzas. they also want to make sure that at least 20% of the total pizzas are cheese and at least 50% of the pizzas are pepperoni. they make a profit of $1.45, $1.75, and $1.98, respectively, for each cheese, pepperoni, and vegetarian pizza they resell. how many pizzas of each type should they buy?

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Which of the following is not characteristic of long-run equilibrium under monopolistic competition?...

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