Consider monopoly, monopolistic competition, and perfect competition. In which of these three market structures does a profit-maximizing firm experience zero economic profit?
a. perfect competition only
b. perfect competition and monopolistic competition only
c. perfect competition, monopolistic competition, and monopoly
d. The answer cannot be determined without knowing whether the market is in the long run or short run.
d
Economics
You might also like to view...
Which of the following is an example of mixed bundling?
A) a suit jacket B) dinner at a buffet restaurant C) a desktop computer and monitor D) All of the above.
Economics
If product prices increase slower than nominal wages increase, then the real value of wages decreases.
Answer the following statement true (T) or false (F)
Economics