A monopolistic competitor is like a monopolist in the short run in that when economic profits are
A) equal to zero, price equals marginal cost.
B) equal to zero, price below marginal cost.
C) greater than zero, changes in output are due to changes to plants by existing firms and there is no entry.
D) greater than zero, price exceeds marginal cost.
D
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The investment when a firm runs part of its operation abroad or invests in another company abroad is called:
A. import investment. B. export investment. C. foreign direct investment. D. portfolio investment.
If real GDP in 2016 using 2015 prices is higher than nominal GDP of 2016, then
A. prices in 2016 are higher than prices in the base year. B. real GDP in 2016 is larger than real GDP in 2015. C. prices in 2016 are lower than prices in the base year. D. nominal GDP in 2016 equals nominal GDP in 2015.