In the long run, a monopolistic competitor will
a. always produce at minimum efficient scale
b. produce too little output to achieve minimum cost per unit
c. use limit pricing to forestall competition
d. earn economic profits
e. standardize its product
B
Economics
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When a tariff is applied to a good exported by a foreign monopoly (with no home producer), the price net of the tariff received by the seller is _________.
a. lower than under free trade b. higher than under free trade c. the same as under free trade d. so high that no sales are possible
Economics
The natural rate of unemployment is closely associated with the short-run ups and downs of economic activity
a. True b. False Indicate whether the statement is true or false
Economics