In monopolistic competition in the long run, firms
A) make zero economic profit and require more capacity.
B) incur an economic loss and require more capacity.
C) make an economic profit and have excess capacity.
D) make zero economic profit and have excess capacity.
E) make an economic profit and require more capacity.
D
Economics
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If one Mexican peso was worth 0.05 U.S. dollar, then one U.S. dollar would be worth:
a. 20 U.S. dollars. b. 20 Mexican pesos. c. 2 Mexican pesos. d. 0.05 Mexican pesos. e. 1 Mexican peso.
Economics
Suppose that Sam likes pears twice as much as apples, meaning that he is always indifferent between consuming one pear or two apples. Sam's indifference curves for pears and apples are
a. right angles. b. bowed inward. c. bowed outward. d. downward-sloping straight lines.
Economics