Profits for the monopolistically competitive firm depicted in Figure 8.1:
A. will increase in the long run.
B. will not change in the long run.
C. will decrease in the long run.
D. are impossible to predict in the long run.
Answer: C
You might also like to view...
"Laboratories of democracy" refers to the fact that having many governments at different levels _____
a. allows for experimentation b. allows for replication of successful policies c. allows for the optimal provision of scientific knowledge d. a and b
Big Waves is a large water park. Suppose the individual demand for entrance into Big Waves is Qd = 50 - (2 × P) and each consumer has the same demand. Big Waves has a constant marginal cost of $5 per consumer. If Big Waves practices two-part pricing and requires a membership fee and then a separate entrance fee, what is the profit-maximizing entrance fee?
A) $200 B) $10 C) $5 D) $50
What are the main rules of the Budget Enforcement Act of 1990?
What will be an ideal response?
The single most important factor in the 1992 crisis of the EMS was
A) ratification of the Single European Act. B) the near failure of the Maastricht Treaty. C) German reunification efforts. D) the outbreak of war in the former Yugoslavia.