If a firm has excess capacity it means A that the firm expends too much of its

If a firm has excess capacity it means a that the

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98) If a firm has excess capacity, it means A) that the firm expends too much of its resources on advertising its product without seeing anappreciable increase in sales.B) that the firmʹs long-run average cost of producing a given quantity exceeds its short-run costof producing that same quantity.C) that the firmʹs quantity supplied exceeds its quantity demanded.D) that the firm is not producing its minimum efficient scale of output.Answer: D98)Diff: 2Page Ref: 444/444Topic: Excess CapacityLearning Outcome: Micro 15: Discuss the role of differentiation in monopolistic competition in comparison toother market conditionsAACSB: Reflective Thinking 99) Economists agree that a monopolistically competitive market structure 99)Diff: 2Page Ref: 444/444Topic: Comparing Perfect Competition and Monopolistic CompetitionLearning Outcome: Micro 15: Discuss the role of differentiation in monopolistic competition in comparison toother market conditionsAACSB: Reflective Thinking 100) Consumers benefit from monopolistic competition by 100)Diff: 2Page Ref: 444/444Topic: Comparing Perfect Competition and Monopolistic CompetitionLearning Outcome: Micro 15: Discuss the role of differentiation in monopolistic competition in comparison toother market conditions AACSB: Reflective Thinking 34
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