The above figure shows a monopolistically competitive firm. The figure

A) is only a short-run illustration because the firm is making an economic profit.
B) could be either a short-run or long-run illustration because monopolistically competitive firms can make an economic profit in the long-run.
C) is only a long-run illustration because the firm is making zero economic profit.
D) is neither a short- nor a long-run illustration.

A

Economics

You might also like to view...

Why is urban giantism less prevalent in mature democracies?

What will be an ideal response?

Economics

The total market value of capital assets in the United States is about $30 trillion dollars

a. True b. False Indicate whether the statement is true or false

Economics