If all monopolistically competitive firms in the industry have profit circumstances similar to the firm shown:
A. new firms will enter the industry.
B. some firms will exit the industry.
C. all firms will exit the industry.
D. no firms will exit the industry.
B. some firms will exit the industry.
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Compare and contrast the relative elasticities that you are likely to find between toothpicks and furniture. Explain your answer
What will be an ideal response?
What is a zero-sum game? Can you think of any zero-sum games in real life?
What will be an ideal response?
Which of the following taxes are earmarked?
a. personal income taxes b. Social Security taxes c. property taxes d. excise taxes e. estate taxes
Alexis talks to his uncle, who advises him to diversify if he chooses to invest in stocks. How can Alexis do this?
a. Choose one stock with a solid history of growth and invest primarily in that. b. Purchase shares of preferred and common stock in the same company. c. Purchase shares of a variety of stocks in companies across a range of industries. d. Buy a company’s stock, hold it for a set period, then sell and repeat the process with a different company.