In the long run, the output of a monopolistically competitive firm
a. exceeds that of an otherwise similar perfectly competitive firm
b. is less than that of an otherwise similar perfectly competitive firm
c. is at the point at which LRAC is minimized
d. equals that of an otherwise similar perfectly competitive firm
e. is less than that of an otherwise similar monopolist
B
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Although it has had some criticism for ineffectiveness, in what way has the North American Agreement on Labor Cooperation had some positive benefits?
a. It created an institutional forum for the discussion of labor issues in Canada, the United States, and Mexico b. It prohibited any one NAFTA member country from publicly revealing violations of labor laws in other NAFTA member countries. c. It reduced the emphasis on labor rights as a legitimate trade issue d. All of these answer choices are examples of the positive benefits.
The Keynesian theory focuses on aggregate supply, while the classical theory focused on aggregate demand
a. True b. False Indicate whether the statement is true or false