If firms in a monopolistically competitive industry are making an economic profit, then definitely there is
A) a leftward shift in each firm's demand curve as new firms enter the market.
B) a rightward shift in each firm's marginal revenue curve as new firms enter the market.
C) an upward shift in each firm's cost curves as new firms enter the market.
D) All of the above answers are correct.
A
Economics
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Holding the real money supply constant, an increase in real money demand will reduce interest rates
Indicate whether the statement is true or false
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Which of the following is not a barrier to entry which leads to monopoly power
a. economies of scale b. control over key patents c. control of an essential resource d. government-imposed barriers to entry e. homogeneous product
Economics