Which firm in Figure 26.5 is most likely a monopolistically competitive firm in the long run?
A. Firm A.
B. Firm B.
C. Firm C.
D. Firm D.
Answer: D
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When a primary dealer buys a government bond from the Federal Reserve, reserves in the banking system ________ and the monetary base ________, everything else held constant
A) increase; increases B) increase; decreases C) decrease; increases D) decrease; decreases
If opening up international trade resulted in the U.S. becoming a wheat exporter, relative to the prior no-trade situation, the U.S. domestic price of wheat: a. would rise, but domestic output would fall
b. would decline, but domestic output would rise. c. would decline, as would domestic output. d. would rise, as would domestic output.
All of the following could immediately or eventually lead to an inward shift of a nation's production possibilities curve, except:
A. emigration of skilled workers to other nations. B. a decline in the birth rate. C. an increase in the average skill level of all occupational groups. D. depletion and reduced availability of major energy resources.
Along an indifference curve
A) the marginal rate of substitution is constant but not equal to zero. B) the consumer does not prefer one consumption point to another. C) the marginal rate of substitution is equal to 0. D) the consumer prefers some of the consumption points to others.