In the short run, the monopolistically competitive firm will experience:
A. economic profits or losses, but in the long run only an economic profit.
B. economic profits or losses, but in the long run only a normal profit.
C. a normal profit, but in the long run only an economic profit.
D. an economic profit, and also one in the long run.
Answer: B
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Mass marketing is
A) advertising that permits a consumer to follow up directly by searching for more information and placing direct product orders. B) advertising that targets a specific audience and allows the consumer to follow up directly by placing direct product orders usually through television or radio. C) advertising targeted at specific consumers. D) advertising intended to reach as many consumers as possible.
A regulated firm is _________, but has no __________
a. a monopolist; control over prices b. privately owned; control over prices c. privately owned; board of directors d. a monopolist; board of directors e. fully autonomous; board of directors
Which rule below would most likely produce movie theater congestion:
What will be an ideal response?
Which of the following is a characteristic of a monopolistically competitive market?I. There are many sellers.II.Firms sell slightly differentiated products.III.Each firm faces a downward-sloping demand curve.
A. I only B. I and II only C. II and III only D. I, II, and III