Unlike a perfectly competitive firm, a monopolistically competitive firm can incur a loss in the long run
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
If the wage rate is ________ the value of marginal product, a firm can increase its profit by ________
A) greater than; selling an extra unit of output B) less than; selling one less unit of output C) less than; hiring an extra worker D) less than; hiring one less worker
Banks who held mortgage-backed securities "took a bath" during the financial crisis of 2007-2009 due to:
A) rising yields in secondary markets which led to a decline in the price of mortgage-backed securities. B) falling yields in secondary markets which led to a decline in the price of mortgage-backed securities. C) their inability to issue new mortgages. D) more rapid pre-payment of mortgages.
Develop a simple model of inflation by identifying at least two exogenous variables and describing, briefly, how the value of these exogenous variables will impact the rate of increase in the overall level of prices in the economy
What will be an ideal response?
If Happy Cleaners and Sparkle Cleaners are in a Cournot oligopoly and Happy Cleaners has a lower cost of production than Sparkle Cleaners, in equilibrium, Happy Cleaners will produce ________ than Sparkle Cleaners and charge a price that is ________ Sparkle Cleaners.
A) more; the same as B) less; greater than C) less; the same as D) more; less than