A monopolistic competitor exits the industry in the long run if ________
A) total revenue exceeds total cost
B) total costs exceed total revenue
C) marginal revenue exceeds marginal cost
D) marginal revenue equals marginal cost
B
Economics
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Economic growth will
A) shift the production possibilities curve inward. B) shift the production possibilities curve outward. C) shift along the production possibilities curve toward the X-axis. D) be a movement from inside the productions possibilities curve to the curve itself.
Economics
When a perfectly competitive firm is in long-run equilibrium, economic profits
A) are positive. B) are zero. C) are negative. D) may be positive, zero or negative depending upon costs.
Economics