Entry and exit continue in monopolistic competition until the remaining firms are
A) earning an economic profit.
B) incurring an economic loss.
C) earning less than a normal profit.
D) earning zero economic profit.
E) producing the normal amount of product differentiation.
D
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The major components of a bond include all of the following except its
A. maturity date. B. face value. C. price. D. coupon rate.
Suppose that the market for steel is shown in the above figure. What specific tax would result in a competitive market producing the socially optimal quantity of steel?
What will be an ideal response?
The factor distribution of income:
A. shows how much income people get from labor compared to land and capital. B. refers to the pattern of income that people derive from different factors of production. C. hasn't changed substantially in the last century in the United States. D. All of these statements are true.
Carbon monoxide in the air is_____ than its 1975 level.
A. 25% more B. 3% less C. 3% more D. 67% less