Long-run equilibrium under monopolistic competition and perfect competition is similar in that price equals marginal revenue. price equals marginal cost. firms produce at the minimum point of their average cost curves. firms break even.

The questions of economics address which of the following ? check all that apply

If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided

Which of the following statements about revision is most accurate? (a) you must compose first drafts quickly (sprint writing) and return later for editing. (b) careful writers always revise as they write. (c) revision is required for only long and complex business documents. (d) some business writers prefer to compose first drafts quickly and revise later; others prefer to revise as they go.