It is the case in both perfectly competitive and monopolistically competitive markets that other firms will enter when firms are making positive economic profits, until price eventually equals ATC and economic profits are zero. Despite these similarities, in a perfectly competitive market total surplus is maximized, while in a monopolistically competitive market surplus is not maximized. Which of the following statements explains this difference? a. In monopolistically competitive markets, firms face horizontal demand curves while in perfectly competitive markets firms face downward-sloping ones.
b. In perfectly competitive markets, firms operate where MR is equal to MC, which is where ATC is minimized.
c. In monopolistically competitive markets, firms operate of the ATC curve which means that MC is higher than ATC. on the decreasing section
d. In monopolistically competitive markets, firms operate where ATC is equal to MC which is where ATC is minimized

Danielle enjoys working as a certified public accountant (cpa) and assisting small businesses and individuals with managing their finances and taxes. which general area of accounting is her specialty? danielle specialized in

John and daphne are saving for their daughter ellen's college education. ellen just turned 10 at (t = 0), and she will be entering college 8 years from now (at t = 8). college tuition and expenses at state u. are currently $14,500 a year, but they are expected to increase at a rate of 3.5% a year. ellen should graduate in 4 years--if she takes longer or wants to go to graduate school, she will be on her own. tuition and other costs will be due at the beginning of each school year (at t = 8, 9, 10, and 11).so far, john and daphne have accumulated $15,000 in their college savings account (at t = 0). their long-run financial plan is to add an additional $5,000 in each of the next 4 years (at t = 1, 2, 3, and 4). then they plan to make 3 equal annual contributions in each of the following years, t = 5, 6, and 7. they expect their investment account to earn 9%. how large must the annual payments at t = 5, 6, and 7 be to cover ellen's anticipated college costs? a. $1,965.21b. $2,068.64c. $2,177.51d. $2,292.12e. $2,412.76

Which of the following best explains why large companies pay less for goods from wholesalers? a. large companies are able to pay for the goods they purchase in cash. b. large companies are able to increase the efficiency of wholesale production. c. large companies can buy all or most of a wholesaler's stock. d. large companies have better-paid employees who are better negotiators.