In the long run, prices in a monopolistically competitive industry ________ prices without trade.
a. will be higher than
b. will be lower than
c. will be equal to
d. will be the same as
Ans: b. will be lower than
Economics
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Fill in the blank: Producers will compare ________ benefits to ________ costs when considering how much output to produce
A) average; additional B) additional; additional C) additional; average D) average; average
Economics
In June 2008, the dollar bought 1.6 Brazilian reals and in October, the dollar bought 2.4 reals. This resulted in a
A) a movement upward along the supply curve for dollars. B) a movement downward along the supply curve for dollars. C) rightward shift in the supply curve for dollars. D) leftward shift in the supply curve for dollars.
Economics