The figure above shows a firm in monopolistic competition. If all firms in the industry have the demand and cost curves illustrated in the figure, then in the long run
A) some firms will have exited the industry.
B) some firms will have entered the industry.
C) firms will have neither entered nor exited the industry.
D) we cannot tell if firms will either have entered or exited the industry.
A
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All of the following are financial institutions that accept deposits and make loans to people and businesses EXCEPT
A) central banks. B) savings and loans. C) savings banks. D) commercial banks. E) credit unions.
Looking at the average tariff rate in the United States since 1930, we see that
A) tariffs have trended downward for most of the period. B) tariffs were made illegal in the United States in 1955. C) tariff levels have remained high, at over 50 percent throughout the period. D) while we talk about free trade, tariff levels have risen over the last 30 years. E) at first tariffs declined, but have recently risen.
Lifetime income is distributed
A) less equally than annual income and less equally than measured wealth. B) less equally than annual income and more equally than measured wealth. C) more equally than annual income and less equally than measured wealth. D) more equally than annual income and more equally than measured wealth.
How have government policies and programs affected the volatility of the business cycle in the United States since 1950? Explain and provide at least two specific examples of policies or programs that may have had an impact
What will be an ideal response?