PTS:126.Based on the graph below, what would total cost be at the profit maximizing level of output?a.$560b.$665c.$875d.$900ANS: C
PTS:127.When many sellers are involved in selling their products in a market, the market structure may be which of the following?i.perfect competitionii.monopolistic competitioniii.monopoly
PTS:128.When free entry is one of the attributes of a market structure, economic profits are:
PTS:129.Characteristics shared by monopolistically and perfectly competitive markets alike include:
PTS:130.Characteristics shared by monopolistically competitive and monopoly markets alike include:a.strategic interactions among sellers.