The long-run equilibrium for a monopolistically competitive firm is efficient because its profits equal zero in the long run.
Answer the following statement true (T) or false (F)
False
You might also like to view...
If the price of a good decreases by 10% and the quantity demanded increases by 10%, then at that price, the good is
A. unit elastic. B. perfectly inelastic. C. elastic. D. inelastic.
Insurance companies offer only unfair insurance because
A) they are run by greedy capitalists. B) they can fool customers into buying it. C) they have operating costs. D) their risks are positively correlated.
A government may be able to reduce the international value of its currency by:
A. selling its currency in the foreign exchange market. B. buying its currency in the foreign exchange market. C. selling foreign currencies in the foreign exchange market. D. increasing its domestic interest rates.
When spending and incomes in an economy increase,
A) imports are likely to increase. B) imports are likely to be unchanged. C) imports are likely to decrease. D) exports are likely to decrease.