If there are economic profits in a monopolistically competitive industry, they will generally be competed away through the
A) manipulation of the demand curve.
B) increasing advertising budgets of existing firms.
C) entry of new firms.
D) introduction of brand name products by existing firms.
E) exit of existing firms.
Ans: C) entry of new firms.
Economics
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Refer to Figure 7-1. Under autarky, the consumer surplus is area
A) S + V. B) S. C) R. D) R + S + V.
Economics
For S&Ls in the early 1980s the __________ cost of short-term deposits turned their net interest margin __________
A) increasing; positive B) increasing; negative C) decreasing; positive D) decreasing; negative
Economics