The cash that a bank keeps in its vault is called its:

A monopolistically competitive firm is similar to

A) a monopoly in the short run because it can make an economic profit in the short run and is similar to a perfectly competitive firm in the long run because it cannot make a positive economic profit. B) a perfectly competitive firm in the short run because it cannot make an economic profit in the short run and is similar to a monopoly in the long run because it can make an economic profit. C) a monopoly because it can make an economic profit in both the short run and long run. D) a perfectly competitive firm because its economic profit is equal to zero in both the short run and long run.

Explain how "learning by doing" and transportation costs each affect the long-run average cost curve

What will be an ideal response?