In a monopolistically competitive industry, the firms are currently making an economic profit. When this market moves to its long-run equilibrium, the firms' demand curves will have ________ and their economic profit will have ________

Suppose you have two investments to choose from:

1, A one-year $20,000 zero coupon bond 2, A two-year $20,000 zero coupon bond What is the difference between the prices of these bonds if the interest rate rises from 4% to 5%? A) You would lose $167.39 more on the two year bond. B) You would lose $167.39 more on the one year bond. C) You would gain $350.54 more on the two year bond. D) You would lose $183.15 more on the one year bond.

A firm suffers an economic loss whenever

a. price exceeds average total cost b. price is less than average total cost c. total revenue exceeds variable cost d. marginal cost is greater than marginal revenue e. marginal cost exceeds average cost