If the level of technology rises from 8 to 8.2 in one period, the growth rate of technology is ________

An economic model includes

A) only normative statements. B) no use of marginal concepts. C) all known details in order to increase its accuracy. D) only details considered essential.

A monopolistically competitive firm that is profitable in the short run will face competition that will eventually eliminate the firm's profits in the long run. But the firm can stave off competition and continue to earn economic profits if

A) it can lobby the government to establish a price floor for its product. B) it can find new ways to differentiate its product. C) it can move to another country where there is less competition. D) it can successfully sue its competitors for copyright infringement.