Compared to perfect competition, when a consumer purchases a product from a monopolistically competitive fim, the consumer benefits from purchasing a product

a. that is produced at minimum average total cost.
b· whose marginal benefit to that consumer equals its marginal cost of production.
c. without coercion from advertising.
d. that is not trademarked.
e. that is more closely suited to their tastes.

Ail industries uses activity-based costing to assist management in setting prices for the company's three major product lines. the following information is available: activity cost pool estimated overhead expected use of cost driver per activity cutting $1,000,000 25,000 labor hours stitching 8,000,000 320,000 machine hours inspections 2,800,000 160,000 labor hours packing 960,000 64,000 finished goods units compute the activity-based overhead rates. (round answers to 2 decimal places, e.g. 12.25.)

Why are the four primary service outputs of spatial convenience, lot size, waiting time, and product variety important to logistics management? provide examples of competing firms that differ in the level of each service output provided to customers?

Because the demand for wheat tends to be inelastic. true or false