A monopolistically competitive firm that is earning profits will, in the long run, experience all of the following except
A) new rivals entering the market.
B) a decrease in demand for its product.
C) demand for the firm's product becomes more elastic.
D) a decrease in the number of rival products.
Answer: D
You might also like to view...
Evan knows his GPA would skyrocket if he could break his horrible habit of procrastinating. An example of a commitment device Evan could use would be:
A. to allow himself one hour of leisure for every half-hour of studying he does each day. B. to pay a student to meet him each afternoon for 2 hours in the library to ensure he studies every day. C. to exercise before studying in order to be refreshed. D. All of these are commitment devices.
As the dollar depreciates, the dollar price of imported goods _________, ultimately shifting the United States AD curve __________________
A) rises; rightward B) rises; leftward C) falls; rightward D) falls; leftward
Refer to the above table. You have a choice among four alternatives. Choice A lets you invest $250,000 at 4 percent; B lets you invest $125,000 at 6 percent; C lets you invest $62,500 at 8 percent, and D lets you invest $31,250 at 10 percent. Which choice will get you to $1 million faster?
A. A B. B C. C D. D
The type of advertising used for a search good is
A) informational advertising. B) persuasive advertising. C) search advertising. D) experience advertising.