In the short run, a monopolistically competitive firm can earn
A) positive profits only.
B) zero profits only.
C) zero or positive profits only.
D) zero, positive or negative profits.
Answer: D
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A household increases its wealth by
A) increasing its capital consumption. B) making sure that its net investment exceeds its gross investment. C) saving. D) spending more on consumption goods. E) decreasing its depreciation.
Economic research indicates that sports franchises are excellent means by which to stimulate local economic growth.
Answer the following statement true (T) or false (F)
Use the following graph to answer the next question.
To maximize profits, the perfectly competitive firm should produce output at
A. A. B. B. C. C. D. K.
The demand curve faced by a pure monopoly is ________.
A. downward sloping B. upward sloping C. vertical D. horizontal