The figure above could represent the long-run equilibrium for a
A) perfectly competitive firm.
B) monopolistically competitive firm.
C) monopoly.
D) firm facing inelastic demand at all outputs.
C
You might also like to view...
What is meant by spreading overhead?
What will be an ideal response?
What is one of the major welfare challenges today and how is it being tackled in the United States?
What will be an ideal response?
That most used cars are sold by intermediaries (i.e., used car dealers) provides evidence that these intermediaries
A) have been afforded special government treatment, since used car dealers do not provide information that is valued by consumers of used cars. B) are able to prevent potential competitors from free-riding off the information that they provide. C) have failed to solve adverse selection problems in this market because "lemons" continue to be traded. D) have solved the moral hazard problem by providing valuable information to their customers.
In the U.S. economy, the effect on federal tax revenues and spending of an increase in the unemployment rate is to:
a. cut tax revenues and raise expenditures. b. cut expenditures and raise tax revenues. c. raise both tax revenues and expenditures. d. cut both expenditures and tax revenues.