In long?run equilibrium for a monopolistically competitive industry, ________ firms earn ________ economic profits.
A. no; positive or negative
B. some; positive
C. some; negative
D. no; zero
Answer: A
You might also like to view...
When the quantity of real GDP demanded exceeds the quantity of real GDP supplied, firms
A) increase production and prices. B) decrease production and prices. C) increase production and lower prices. D) decrease production and increase prices. E) do not change production because aggregate demand and potential GDP will adjust.
A good with an income elasticity of 0.4 is:
A. a luxury good. B. a normal good. C. an inferior good. D. a substitute good.
Pork-barrel legislation typically bundles the pet projects of several special interest groups. Such legislation
a. is frequently enacted, even though the overall benefits to society are less than the overall costs to society. b. seldom benefits special interest groups. c. usually, if successful, helps the majority of taxpayers. d. seldom passes because social benefits are far smaller than social costs.
Which of the following is NOT one of the core deliverables of a logistics system?
a. Excess capacity b. Timely Delivery c. Transparency d. Product availability e. Product availability