Hey everyone Im a Business Administartion major who is currently taking microeconomics, Im having troublw with two questions and any help would be greatly appreciated.
1. A profit maximizing firm in a monpolistically competetive market is characterized by which of the following:
A. Average revenue exceeds marginal revenue
B. Marginal revenue exceeds average revenue
C. Average revenue is equal to marginal revenue.
D. Revenue is maximized along with profit.
2. Income Mobility studies suggest that poverty:
A. cannot be alleviated by privately sponsored antipoverty programs.
B. Cannot be alleviated by goverment sponsored antipoverty programs
C. Is a long-term problam for a relatively large number of famalies
D. is not a long- term problem for most famalies.
1. A profit maximizing firm in a monpolistically competetive market is characterized by which of the following:
A. Average revenue exceeds marginal revenue
B. Marginal revenue exceeds average revenue
C. Average revenue is equal to marginal revenue.
D. Revenue is maximized along with profit.
2. Income Mobility studies suggest that poverty:
A. cannot be alleviated by privately sponsored antipoverty programs.
B. Cannot be alleviated by goverment sponsored antipoverty programs
C. Is a long-term problam for a relatively large number of famalies
D. is not a long- term problem for most famalies.