How are the monopolistically competitive producer and the monopolist different?
a. The monopolist has zero barriers to entry and exit, but the monopolistically competitive producer has many such barriers.
b. The monopolist has an upward-sloping demand curve, but the monopolistically competitive producer has a horizontal demand curve.
c. The monopolist can make economic profits in the long run, but the monopolistically competitive producer cannot.
d. The monopolist has many competitors, but the monopolistically competitive producer does not.
c. The monopolist can make economic profits in the long run, but the monopolistically competitive producer cannot.
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Suppose that the spot exchange rate for a foreign currency is equal to $120, while the interest rate in dollars is 2% and the interest rate in the foreign currency is 3%. What is the approximate forward rate that is consistent with this situation?
A) $115.56 B) $124.44 C) $118.77 D) None of the above.
Any custodial parent who applies for federally funded welfare must agree to help in the collection of eligible child support, and assign all rights to payments to the welfare agency
Indicate whether the statement is true or false
If output is below the full-employment level of output, we should expect wages to increase over time
a. True b. False
The multiple by which the commercial banking system can expand the supply of money is equal to:
A. The ratio of actual reserves to required reserves B. The reciprocal of the federal funds rate C. The reciprocal of the reserve ratio D. The ratio of required reserves to actual reserves