Which statement is true?
A. Product differentiation can take place even if there are no physical differences among products.
B. Price discrimination is not possible in monopolistically competitive firms.
C. Economies of scale ensure that monopolistically competitive firms make a profit in the long run.
D. The absence of barriers to entry ensures short-run profits for monopolistic competitors.
A. Product differentiation can take place even if there are no physical differences among products.
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"Fluctuations in exchange rates, other things remaining the same, create a situation in which money buys the same amount of goods and services in different currencies
" What does the previous statement describe? Will these fluctuations occur in the short run or the long run?
A firm's market constraints include the conditions under which it can
A) convert inputs into outputs. B) buy its inputs and sell its outputs. C) issue stock. D) produce the inputs to production.
Which of the following statements is an accurate description of the Revolution?
a. It never had majority support. b. Two-thirds of the population either opposed it or did nothing to support it. c. It became a popular war, maintaining widespread popular support after 1776. d. Both a and b are correct. e. None of the above are correct.
Output per labor-hour is used to measure the ________ of labor.
A. productivity B. effort C. intelligence D. seriousness