In the long run, monopolistically competitive firms make zero economic profits because of government regulations
Indicate whether the statement is true or false
FALSE
You might also like to view...
Before World War I, most countries belonged to a system of fixed exchange rates in which currencies were tied to which of the following assets?
A) The U.S. dollar B) The British pound C) Silver D) Gold
According to the rational expectations school, when monetary policy makers do exactly what is expected of them, their efforts to stimulate the economy will have no effect on employment
a. True b. False Indicate whether the statement is true or false
What is the opportunity cost of going from point A to point B?
When producers (say, of roads) are not able to make all consumers pay for enjoying their product (i.e., the roads), they tend to see a:
A. Marginal cost of production that is too low, and there is a supply-side market failure
B. Marginal benefit of production that is too high, and there is a demand-side market failure
C. Marginal cost of production that is too high, and there is a supply-side market failure
D. Marginal benefit of production that is too low, and there is a demand-side market failure