A monopolistically competitive firm in the long run will
a. have a demand curve tangent to its AC.
b. have a demand curve below its AC.
c. have a demand curve above its AC.
d. operate where excessive profit can be achieved.
a
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A country is said to be in balance of payments equilibrium, when the sum of its current and its
A) non-reserved capital accounts equals zero. B) reserved capital accounts equals zero. C) non-reserved capital accounts equals to the surplus in the capital account. D) non-reserved capital accounts equals to the deficit in the capital account. E) non-reserved capital accounts is higher than the total capital account balance.
The guidelines for whether or not to include an additional variable include all of the following, with the exception of
A) providing "full disclosure" representative tabulations of the results. B) testing whether additional questionable variables have nonzero coefficients. C) determining whether it can be measured in the population of interest. D) being specific about the coefficient or coefficients of interest.