The number of firms in a perfectly competitive industry is not fixed in the long run
a. True
b. False
Indicate whether the statement is true or false
True
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If the interest rate is below the equilibrium, which of the following occurs in this market?
a. excess supply b. excess quantity supplied c. excess demand d. excess quantity demanded
Between 2009 and 2013,
A. both the actual and the structural deficit fell substantially. B. both the actual and the structural deficit rose substantially. C. the actual deficit rose, while the structural deficit fell substantially. D. the structural deficit rose, while the actual deficit fell substantially.
Which of the following is eliminated when the economy's output is equal to full-employment GDP?
A. The MPC. B. The multiplier. C. Leakages and injections. D. The real GDP gap.
In a monopolistically competitive market, the advantage that a seller has over competitors or newcomers is
A. the high price elasticity of supply for its product. B. the licenses or patents it has received. C. the consumer preference for its brand. D. the high price elasticity of demand for its product.