What combination of changes would most likely decrease the equilibrium price?
A. When supply decreases and demand increases
B. When demand increases and supply increases
C. When demand decreases and supply decreases
D. When supply increases and demand decreases
D. When supply increases and demand decreases
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Refer to the table above. Which is the optimum location for the firm to set up its factory?
A) Far B) Close C) Very Far D) Very Close
In the long run, monopolistic competitive firms are considered to be operating inefficiently because their
A) economic profits are positive. B) economic profits are zero. C) average total costs are not at a minimum. D) marginal costs are rising.
Entry barriers can lead to long-run economic profits.
Answer the following statement true (T) or false (F)
What is the percentage of the lower two quintiles earned on line Y?
