Monopolistic competitive firms in the long run earn:
a. positive economic profits.
b. zero pure economic profits.
c. negative economic profits.
d. none of these.
b
Economics
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The quantity demanded of an input normally rises as its price rises
a. True b. False Indicate whether the statement is true or false
Economics
The marginal rate of substitution measures
A) the impact of product substitution. B) the changes in marginal utility along the indifference curve. C) the consumer's willingness to substitute one product for another so that total utility will remain unchanged. D) the consumer's willingness to substitute one product for another so that marginal utility will remain unchanged.
Economics