What is the long-run effect on the demand curve of a monopolistically competitive firm when more firms enter the market?
a. Demand curve shifts to left.
b. Demand curve remains the same.
c. Demand curve shifts to right.
d. Demand curve become flatter.
a
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Economic growth can be defined as
A) the rate of growth in the productivity of labor. B) the rate of growth in the productivity of capital. C) the rate of growth of labor plus the rate of depreciation of capital. D) the rate of growth of labor plus the rate of growth of capital plus the rate of growth in the productivity of labor and capital.
The cost that society incurs in cleaning up pollution caused by a firm's production is the same as the __________ associated with that production
a. negative externality b. positive externality c. private marginal cost d. intersection of the demand and supply curves e. price
Investment is the amount by which ____ grows
a. portfolio b. income c. earnings d. capital
Suppose you are planning to open a lemonade stand. List separately all the explicit and implicit costs that might be involved