Fixed costs exist only in the:

In contrast with perfect competition, excess capacity characterizes monopolistic competition. Excess capacity is due to which of the following?

A) Monopolistically competitive firms face downward-sloping demand curves. In the long run, firms produce where their demand curves are tangent to their long-run average total cost curves. B) Monopolistically competitive firms produce at the minimum point on their average total cost curves. C) Monopolistically competitive markets have low barriers to entry. D) Monopolistically competitive firms produce where marginal revenue is equal to marginal cost.

If real GDP per capita in the United States is $8,000 in 2016, and if real GDP per capita is $12,000 in 2026, what is the average annual percent change in the growth rate of GDP per capita between 2016 and 2026?

A) 3.33% B) 5% C) 33% D) 50%