Firms in monopolistic competition and perfect competition typically
a. are price takers
b. produce identical products
c. earn zero economic profit in the long run
d. face a downward-sloping demand curve
e. face an upward-sloping total revenue curve at all rates of output
C
Economics
You might also like to view...
Which of the following is an example of a monopolistically competitive market?
A) The market for wheat B) The market for coffee beans C) The market for shampoo D) The market for premium cars
Economics
The productivity of the employees of a bakery is reduced because of the excessive noise coming from a next door car repair shop. This is an example of
A) synergy. B) a positive externality. C) a negative externality. D) happy coexistence.
Economics