Agave, Six Feet Under, Globe, Silk, Sotto Sotto and Zocalo are all restaurants in Atlanta. In this monopolistic market, economic profit would encourage ________, which decreases the ________ for each firm's meals
A) entry; demand
B) entry; supply
C) exit; demand
D) exit; supply
A
Economics
You might also like to view...
The above figure shows the cost curves for a competitive firm. If the market price is $15 per unit, the firm will earn profits of
A) $0. B) $4. C) $40. D) $160.
Economics
Tacit collusion occurs in industries that
a. are monopolistically competitive b. contain price leaders c. experience rapid technological change d. are regulated e. produce very differentiated products
Economics
The banks basic reserve ratio on checking deposits over $55.2 million is now
A. 16%. B. 14%. C. 12%. D. 10%.
Economics
If policymakers are not aggressive about keeping inflation close to the target rate, the slope of the monetary policy reaction curve would be:
A. horizontal. B. steep. C. negative. D. relatively flat.
Economics