In the long-run, surviving firms in monopolistic competition earn:
a. higher pure economic profits.
b. zero pure economic profits.
c. below-normal profits.
d. substantial economic losses.
b
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The annual income that can be consumed without diminishing the total capital assets of a nation is
(a) purchasing power parity income. (b) sustainable national income. (c) environmental capital stock. (d) per capita income.
The rate of time preference is positive
a. only when interest rates are positive b. because interest rates are positive c. only when people save d. because people save e. because people prefer goods now to the same goods later
Figure 11-1
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In Figure 11-1, to achieve equilibrium at potential GDP, the government could
A. increase taxes. B. decrease transfer payments. C. increase government purchases. D. None of the above is correct.
All of the following will cause a shift in the supply of portable power banks EXCEPT
A) a decrease in the prices of portable power banks. B) an increase in the cost of producing portable power banks. C) a per-unit government subsidy on the production of portable power banks. D) a decrease in the number of portable power bank manufacturers.