Since a monopolistically competitive firm has a monopoly over the particular product it produces, the firm is guaranteed a profit in the long run.
Answer the following statement true (T) or false (F)
False
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"The value of the next best alternative" defines
A. the Law of Increasing Costs. B. the economic problem. C. allocative efficiency. D. opportunity cost.
In early 2010 there were __________ Americans working than there were 10 years earlier.
A. more B. fewer C. the same number of
In response to the overvalued dollar in the early 1970s, the German Bundesbank bought dollars and sold marks to keep the exchange rate fixed, gaining international reserves
The huge purchase of international reserves meant that the German monetary base began to ________, leading to ________ growth in the German money supply. A) decline; sluggish B) decline; rapid C) grow; sluggish D) grow; rapid
A forecaster used the regression equationQt = a + bt + c1D1 + c2D2 + c3D3and quarterly sales data for 1996 I - 2013 IV (t = 1, ..., 64) for an appliance manufacturer to obtain the results shown below. Q is quarterly sales, and D1, D2 and D3 are dummy variables for quarters I, II, and III. 
In any given year, quarterly sales tend to vary as follows:
A. QI > QII > QIV > QIII B. QIII > QIV > QII > QI C. QII > QIII > QIV > QI D. QIII > QII > QI > QIV E. QI > QII > QIII > QIV