Multiple Choice
The figure given below shows the revenue and cost curves of a monopolistically competitive firm.Figure 12.4
MR: Marginal revenue curve
ATC: Average total cost curve
MC: Marginal cost curve
-A consumer becomes loyal to a product when:
A) the good is available at a very low price.
B) the product is as good as its substitutes.
C) the product comes with a gift occasionally.
D) he/she has had a positive experience with that good.
E) discounts are offered periodically.
Correct Answer:

Verified
Correct Answer:
Verified
Q41: The table below shows the payoff (profit)
Q42: The table below shows the payoff (profit)
Q43: The figure given below shows the revenue
Q44: The following table shows the payoff matrix
Q45: The figure given below shows revenue and
Q47: The table below shows the payoff (profit)
Q48: The table below shows the payoff (profit)
Q49: The table below shows the payoff (profit)
Q50: The figure given below shows the revenue
Q51: The following table shows the payoff matrix