Because of easy entry, monopolistically competitive firms will
a. produce at the lowest average total cost
b. charge a price equal to marginal cost
c. earn no economic profit in the long run
d. take advantage of all economies of scale
e. earn no economic profit in the short run
C
Economics
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Firms undertake multinational operations in order to
A) hire low-wage workers. B) manufacture in nations they have difficulty exporting to. C) obtain necessary factor inputs. D) All of the above
Economics
Between 1870 and 1910, corn and wheat
a. output showed little, if any, growth in land productivity. b. output increased dramatically, due to labor productivity increases. c. yields per acre hardly changed. d. output increased dramatically due to the effects of increased amounts of capital per worker. e. All of the above are correct.
Economics