The monopolistic competitor
A. may make a profit in the short run but not in the long run.
B. may make a profit in the long run but not in the short run.
C. may make a profit in both the short run and the long run.
D. may make a profit in neither the short run nor the long run.
A. may make a profit in the short run but not in the long run.
You might also like to view...
Consider two countries: A and B. In country A, the annual growth rate of GDP per capita is 2%, while in country B the annual growth rate of GDP per capita is 6%. At present, country B's GDP per capita is higher than country A's GDP per capita
Which of the following statements will then be true? A) The gap between country A's GDP per capita and country B's GDP per capita will decrease for the first few years and then will increase later. B) The gap between country A's GDP per capita and country B's per capita will decrease over time. C) The gap between country A's GDP per capita and country B's per capita will widen over time. D) The gap between country A's GDP per capita and country B's per capita will remain the same.
Empirical estimates indicate that the annual welfare cost of monopoly in the United States
a. ranges from less than 1 percent to 5 percent of national income b. ranges from 10 percent to 20 percent of national income c. is approximately 10 percent of national income d. is approximately $1 billion e. is approximately $1 trillion
A _____ does not engage in international trade in goods and services and it does not engage in international borrowing and lending
Fill in the blank(s) with correct word
In Graph D, which of the following would cause the market curve to shift to the left?
a. a change from Q1 to P2 in Graph C
b. a change from P1 to Q2 in Graph C
c. a change from P1 to P2 in Graph C
d. a change from Q2 to Q1 in Graph C