A monopolistic competitive firm is inefficient because the firm:
a. is not maximizing its profit.
b. is producing at an output where average total cost is not minimum.
c. earns positive economic profit in the long run.
d. none of these.
b
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The first run on a British bank since 1866 occurred in August 2007 at which bank?
A) Liberty Mutual B) Liberty Rock C) Northern Rock D) Bank of England E) First Savings and Loan
Both the trade and budget balance were in roughly zero until the 1980s when the budget deficit increased dramatically and the U.S. trade deficit increased dramatically
However, during the late 1990s the budget deficit shrank—in fact, moving to surplus—at the same time that the U.S. trade deficit increased significantly. Since 2000, the budget deficit has increased significantly, particularly after 2008.What is the relationship between a country's trade balance and its stance as a borrower or lender? Historically, has the U.S. been a net lender or net borrower? Why do you think that this is? Do you think that the U.S. budget situation might have anything to do with this?