If a firm in a monopolistically competitive market has a demand curve that is shifting to the right, it will only stop shifting when:
A. the firm is earning zero economic profits.
B. the firm's price is equal to its average total costs.
C. other firms have no incentive to leave the market.
D. All of these statements are true.
D. All of these statements are true.
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If consumers increase saving during a recession, what will this do and why?
What will be an ideal response?
If industry sales are $1,000, and the top four firms have sales of $500, $200, $100, and $50, respectively, what will be the four-firm concentration ratio?
A) 95 percent B) 85 percent C) 70 percent D) 100 percent
Inflation is a sustained rise in the general price level.
Answer the following statement true (T) or false (F)
Which of the following is most accurate about the US during World War I?
a. Long-standing nationalistic and imperialistic rivalries produced a dangerous political situation. b. The continent had experienced several major wars in the preceding decades. c. Industrialization and a greater commitment to international trade had created rapidly rising standards of living. d. There was rising solidarity among the labor movements of different nations.