A foundation of planned socialism is:

When a country imports a good, the ________ to consumers is ________ the ________ to producers

A) loss; smaller than; gain B) loss; larger than; gain C) gain; smaller than; loss D) gain; equal to; loss E) gain; larger than; loss

Which of the following statements is true about profits in a monopolistically competitive market?

(A) Monopolistically competitive firms are as profitable as monopoly firms. (B) Profits are rare in monopolistically competitive markets. (C) Most firms will earn substantial profits from year to year. (D) Many firms will earn profits in the short term, but they must constantly innovate and compete to earn profits in the long term.