Which statement is true about the monopolistic competitor in the long run?
A. It will be making a profit.
B. It will be taking a loss.
C. It may be making a profit or taking a loss.
D. It will be breaking even.
D. It will be breaking even.
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The Phillips curve fails to provide a consistent explanation for macroeconomic performance in the United States in the 1960s
a. True b. False Indicate whether the statement is true or false
Which of the following changes would not shift the supply curve for a good or service?
a. a change in production technology b. a change in the price of the good or service c. a change in expectations about the future price of the good or service d. a change in input prices
Economists feel that taxing nominal capital gains imposes costs on the economy due to
A. increased consumption. B. reduced consumption. C. increased investment. D. reduced investment.
Figure 11.4Figure 11.4 depicts demand and costs for a monopolistically competitive firm. In the long run we expect:
A. more firms to enter the market. B. the firm's demand curve to shift to the left. C. the firm's average cost of production to increase. D. All of these