A monopolistically competitive firm is making a positive economic profit. In the long run, which of the following is most likely?
A) It will produce less output and it will charge a lower price.
B) It will produce the same output and charge the same price.
C) It will produce less output but keep price the same.
D) It will keep output the same but will charge a higher price.
A
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What is a Nash equilibrium? Is this equilibrium necessarily the best outcome for the players? Give an example
What will be an ideal response?
(1)(2)(3)(4)(5)QdQdPriceQsQs5040$1070806050960708060850609070740501008063040Refer to the above table. In relation to column (3), a change from column (2) to column (1) would indicate a(n):
A. decrease in demand. B. increase in supply. C. decrease in supply. D. increase in demand.
Which statement is true?
A. Americans had a higher rate of saving in the 1990s than in the 1980s B. In 2005, Americans savings rate actually turned negative C. Interest on home equity loans is not deductible on federal income tax returns D. None of these statements are true
European communism collapsed during the years
A. 1974-1976. B. 1979-1981. C. 1984-1986. D. 1989-1991.