In a monopolistically competitive market
A) firms are price setters.
B) barriers to entry are high.
C) firms earn positive economic profit in the long run.
D) products are undifferentiated.
A
You might also like to view...
While the classicists believed that both velocity and output are stable, Keynesians believe
Which of the following provisions of the Affordable Care Act will work to keep high-risk and low-risk people in the same health insurance pool?
A) the employer mandate provision B) the individual mandate provision C) the stipulation that people with preexisting conditions cannot be denied health insurance D) all of the above
Over the long run, per capita incomes in different regions of the United States have
a. gradually diverged with the Northeastern region leading all other income groups. b. gradually converged. c. gradually converged until roughly 1985, and then diverged as the Western states outpaced other regions. d. have converged, with the exception of the South.
Which of the following is not a problem associated with the U.S. federal budget process?
a. The congressional committee framework b. The lengthy budget process c. The failure to meet deadlines d. The lack of detail in the budget e. Uncontrollable budget items