In the long run in a monopolistically competitive market, a firm will, in theory,
A. suffer losses.
B. earn zero accounting profits.
C. earn economic profits.
D. break even.
Answer: D
You might also like to view...
When is the price of a product demand determined?
What will be an ideal response?
Throughout the 1980s, the Federal Reserve
a. primarily targeted M1. b. primarily targeted M2. c. returned to targeting the federal funds rate. d. began targeting inflation.
According to the text, which of the following factors contributed to the increased labor force participation rate of women during the postwar period?
a. rising real wages b. an increase in the years of schooling completed by women c. declining fertility rates d. the growth of the service sector e. All of the above
The opportunity cost of attending a college basketball game tonight would increase if: a. Your friend offers to pay you more for your ticket, because he really wants to go
b. Your favorite player on the teams is injured and will not play tonight. c. Your economics TA decides to offer a review session, for which attendance will count 10% of your course grade, at the same time as the game d. Either a. or c. occurs