An important similarity between a monopolistically competitive firm and a pure monopolist is that both:
A. realize an economic profit in the long run.
B. achieve allocative efficiency.
C. face demand curves that are less than perfectly elastic.
D. achieve productive efficiency.
Answer: C
You might also like to view...
When the labor market is in equilibrium so that the quantity of labor supplied equals the quantity demanded,
A) there is no unemployment. B) the economy is at full employment. C) nominal GDP equals real GDP. D) there is no inflation. E) real GDP might be more than, less than, or equal to potential GDP.
The least squares regression is based on:
A) maximizing the absolute sum of squares errors. B) minimizing the absolute sum of squares errors. C) maximizing the sum of squared errors. D) minimizing the sum of squared errors.
A capital inflow occurs when a
A) domestic resident purchases a domestic asset. B) domestic resident purchases a foreign asset. C) foreign resident purchases a domestic asset. D) foreign resident purchases a foreign asset.
Economic status tends to be passed on from one generation to the next _____
a. regardless of the monetary wealth that is transmitted from parents to children b. because of the monetary wealth that is transmitted from parents to children c. in nearly all societies d. a and c