If the country wanted to produce the maximum total number of units of guns and butter combined, it would produce at point(s) ________________.

Why does a firm in monopolistic competition earn zero economic profit rather than an economic profit in the long run?

What will be an ideal response?

Data on miles of main line track in operation between 1860 and 1910 show that:

a. total mileage first increased and then decreased, causing the growth rate to eventually become negative. b. total mileage and the growth rate both increased steadily. c. total mileage increased steadily, but the growth rate tapered off. d. total mileage increased at a constant pace, resulting in a nearly constant growth rate.