Monopolistic competitors and perfect competitors are alike in
A. having horizontal demand curves.
B. zero economic profit in the short run.
C. zero economic profit in the long run.
D. relying on advertising to attract buyers to their products.
Answer: C
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After a shift in the aggregate demand curve, which variable adjusts to restore general equilibrium?
A) price level B) real interest rate C) consumption spending D) investment spending
If capital increases by two units, and MRTS is 1, then what is the MPL?
A) 2 B) 1/2 C) 1 D) Not enough information given.
The Bureau of Labor Statistics collects ________ measures of unemployment.
A. 6 B. 5 C. 7 D. 4
If a firm suffers an economic loss, its:
A. price is less than its marginal cost. B. price is less than its marginal revenue. C. price is less than its average total cost. D. None of these