The firm in the figure above is in monopolistic competition. It will set a price equal to
A) $1.
B) $2.
C) $3.
D) more than $3.
C
Economics
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Why does the supply curve for a commodity tend to be more elastic in the long run than in the short run?
A. Farmers can adjust their labor inputs in the long run. B. All inputs are variable in the long run. C. Firms can adjust their quality in the long run. D. None of the above.
Economics
What are the four explanations given as to why the Fed did not intervene to stabilize the banking system during the Great Depression?
What will be an ideal response?
Economics