Multiple Choice
Product innovation and development is efficient if the marginal social cost of a new and improved product ________ its marginal social benefit. In monopolistic competition marginal revenue is less than price, so product innovation is probably ________ to its efficient level.
A) is greater than; not pushed
B) equals; pushed
C) is greater than; pushed
D) equals; not pushed
E) is less than; not pushed
Correct Answer:
Verified
Correct Answer:
Verified
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