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Vikki [24]
3 years ago
15

In the model of monopolistic competition, if an industry has large ________ relative to another industry, then we should expect

_________ firms to operate in a long-run equilibrium of that industry. A. marginal costs; less B. fixed costs; less C. marginal costs; more D. fixed costs; more
Business
1 answer:
tresset_1 [31]3 years ago
5 0

Answer:

Option A:

<em>Large</em> Marginal costs; less <em>firms in the industry</em>

Explanation:

Monopolistic competitions are market models which are charaterized by low barriers to entry.  High marginal costs will discourage firms from entering the industry, thereby leading to a reduced number of firms operating there in the long run.

Since the marginal costs reduce profit, if this continues to rise, most firms will discover that it is difficult to make profit in such an industry. They  will definitely leave industry for a different one.

This makes Option C  the answer.

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Answer:

Total direct labor cost= $122,752

Explanation:

Giving the following information:

Each unit of output requires 0.77 direct labor-hours.

The direct labor rate is $11.20 per direct labor-hour.

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November= 6,900*0.77= 5,313 hours

Direct labor budget:

October= 5,480*11.2= 61,376

November= 61,736

Total cost= $122,752

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