In the long run, the economic profits for a monopolistically competitive firm will be
A. slightly more than the profits of a purely competitive firm.
B. the same as the profits for a purely competitive firm.
C. the same as the profits for a monopolist.
D. slightly less than the profits of a monopolist.
Answer: B
Economics
You might also like to view...
Name some of the barriers to entry that can be created by a competitive firm to protect profits?
Economics
The price elasticity of demand for widgets at any particular price is determined by
a. whether widgets are luxuries or necessities. b. how much of their budgets consumers spend on widgets. c. whether there are any good substitutes for widgets. d. All of the above are correct.
Economics