In the long run, monopolistic competition
a. results in a monopoly
b. ends up with one firm, that is, competition transforms to monopoly
c. ends up with many firms in the industry
d. has zero barriers to entry
e. has no product differentiation
C
You might also like to view...
When the production of a good has an external cost, the
A) marginal social cost curve lies below the marginal private cost curve. B) marginal social benefit curve lies above the marginal private benefit curve. C) equilibrium quantity in an unregulated, competitive market has a marginal social cost greater than the marginal social benefit. D) equilibrium quantity in an unregulated, competitive market has a marginal social cost less than the marginal social benefit.
The acronym NAVPS in the mutual fund table denotes:
a. the percentage change in the asset value of the mutual fund from the close of the previous day's trading. b. the highest and lowest values that the mutual fund has experienced over the last one year. c. the highest asset value at which the fund was sold during the past week. d. the percentage change in the asset value of the mutual fund from the previous week. e. the value of the mutual fund divided by the number of shares of the fund.