A monopolistic competitor is like a competitive firm in the long run, because
A) it earns positive economic profits.
B) it earns zero economic profits
C) both firms will earn positive economic profits.
D) both firms will increase price to increase profits.
B
Economics
You might also like to view...
The age-earning cycle shows declining income as a person approaches retirement age because
A) worker productivity is increasing rapidly. B) worker and hours worked diminish. C) companies choose to promote these workers faster. D) companies add-in Social Security payments as a supplement.
Economics
When money works as a common denominator into which the values of all goods and services are expressed, it is which function of money?
(a) Medium of Exchange. (b) Unit of Account. (c) Store of Value (d) Standard of Deferred Payment.
Economics