If reserves are __________ because of a temporary __________ in the Treasury's balance at the Fed, open market __________ may be used to offset such influences

How is a monopolistically competitive firm similar to a perfectly competitive firm?

A) Both will observe entry into the industry if economic profit is positive. B) Both produce where average total cost equals marginal cost. C) Both make a positive economic profit in the long run. D) Both produce a homogeneous good.

Platform monopolies:

A. provide an importance service, but present new types of antitrust problems. B. are bad because they earn monopoly profits. C. earn low profits because of network externalities and ought to be broken up. D. are good because they earn monopoly profits.