In the short run, the profitability of monopolistic competition _______ that of perfect competition; in the long run the profitability of monopolistic competition _______ that of perfect competition.
Fill in the blank(s) with the appropriate word(s).
is the same as; is the same as
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Why is data an essential component of the scientific method?
What will be an ideal response?
An important characteristic of the modern payments system has been the rapidly increasing use of
A) checks and decreasing use of currency. B) electronic fund transfers. C) commodity monies. D) fiat money.
How do banks and financial intermediation support economic growth and development?
(a) By helping businesses secure the funds needed for capital accumulation and technology advancements (b) By assisting customers in buying durable and nondurable goods and services (c) By financing government expenditures when tax revenue falls below planned spending (d) By granting loans to foreign-born individuals to invest in countries outside of the U.S.
Cruise with Us is running a promotion to attract new customers and is offering a free around the world cruise to any customer who can sink a hole in one on a professional golf course located near Cruise with Us' corporate headquarters. The cost of the around the world cruise is $50,000 and Cruise with Us is running the promotion for a month. The probability that a customer can sink a hole in one
during the one month period is 5 percent. What is the expected cost of the promotion? A) $2,500 B) $50 C) $500 D) $250