Monopolistic competitors and perfect competitors are alike in:
a. facing horizontal demand curves
b. earning zero economic profit in the short run.
c. earning zero economic profit in the long run.
d. relying on advertising to attract buyers to their products.
c
Economics
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Refer to the data. The average fixed cost of producing 3 units of output is:
A. $8.
B. $7.40.
C. $5.50.
D. $6.
Economics
Which of the following examples best illustrates a negative network externality?
a. Jamal goes to the theme park on weekdays to avoid the crowds. b. Jamal buys his plane ticket on sale to avoid an expected rate increase. c. Jamal goes to a movie instead of a concert because concert ticket prices increase. d. Jamal buys a season pass to the theme park to save money.
Economics