Which statement is true?
A. The monopolistic competitor has a perfectly elastic demand curve.
B. The monopolistic competitor may make a profit in the long run.
C. The monopolistic competitor operates at the minimum point of her ATC curve.
D. None of these statements are true.
D. None of these statements are true.
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The income and substitution effects are part of the reason why
A. the demand curve is downward-sloping. B. the supply curve is upward-sloping. C. the demand curve is upward-sloping. D. the supply curve is downward-sloping.
In the circular-flow diagram, one loop represents the flow of goods, services, and factors of production, and the other loop represents the corresponding flow of dollars
a. True b. False Indicate whether the statement is true or false
A favorable supply shock will cause inflation to
a. rise and shift the short-run Phillips curve right. b. rise and shift the short-run Phillips curve left. c. fall and shift the short-run Phillips curve right. d. fall and shift the short-run Phillips curve left.
How much is the multiplier?
