Under monopolistic competition
A. there is no distinction between the short run and the long run.
B. there are very few firms in the industry.
C. all the firms produce an identical product.
D. each firm breaks even in the long run.
D. each firm breaks even in the long run.
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
A retired athlete built a gym near his house that could be used for free by all the residents in the neighborhood. However, the overuse of the facilities soon led to irreparable damages. This is an example of the ________
A) tragedy of the commons B) pecuniary externality C) paradox of thrift D) prisoners' dilemma
The use of domestic open market operations to counteract the effects of a foreign exchange market intervention on the domestic money supply is known as:
a. normalization. b. quantitative easing. c. sterilization. d. volatilization. e. depreciation.
A country that grows faster than the rest of the world should find its imports growing faster than its exports.
Answer the following statement true (T) or false (F)