In monopolistic competition, there are ________ barriers to entry and so firms in monopolistic competition ________ earn an economic profit in the long run
A) high; can
B) high; cannot
C) no; can
D) no; cannot
E) sometimes; can sometimes
D
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If we assume that government borrowing crowds out private investment, then future generations will have a smaller capital stock. Ricardo's view is that this will not be the case, because people are forward looking. Do you agree?
What will be an ideal response?
A proportional tax will have a constant tax rate despite changes in the tax base
a. True b. False Indicate whether the statement is true or false
Senator Brown wants to increase taxes on people with high incomes and use the money to help the poor. Senator Johnson argues that such a tax will discourage successful people from working and will therefore make society worse off. An economist would say that
a. we should agree with Senator Brown. b. we should agree with Senator Johnson. c. a good decision requires that we recognize both viewpoints. d. there are no tradeoffs between equity and efficiency.
What distinguishes nudge policies from push policies?
A. Nudges affect incentives, whereas pushes do not. B. Nudges are libertarian, whereas pushes are not. C. Nudges are implemented by the government; pushes are implemented by firms. D. Nudges affect choices, whereas pushes do not