The process of entry and exit into a monopolistically competitive market continues until:
A. price is equal to average total cost.
B. long-run equilibrium is reached.
C. profits are zero.
D. All of these statements are true.
Answer: D
Economics
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A) a platform in a shared-input market. B) an end user in a matchmaking market. C) a platform in a matchmaking market. D) an end user in a shared-input market.
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Suppose that in an industry, firm X has 50 percent market share, firm Y has 35 percent market share, and firm Z has 10 percent market share. Which of the following mergers is NOT likely to be challenged by the Federal Trade Commission?
A) a merger between firms X and Y B) a merger between firms Y and Z C) a merger between firms X and Z D) Any merger of two firms among those firms is likely to be challenged.
Economics