In the long run, firms in a monopolistically competitive market
A. usually earn positive economic profits.
B. always earn monopoly profits.
C. earn zero economic profits.
D. usually earn economic losses.
Answer: C
Economics
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Sarah initially used her cell phone mostly to make important business calls
However, when she was informed that henceforth her phone bills would be reimbursed by her employer, she started using her cell phone to make frequent calls to her friends and relatives. This behavior is an example of ________. A) moral hazard B) a negative externality C) the prisoners' dilemma D) the free-rider problem
Economics
The largest item on the asset side of the Federal Reserve balance sheet is
A) Federal Reserve notes. B) U.S. government securities. C) gold. D) U.S. Treasury deposits.
Economics