A monopolistically competitive firm is like a perfectly competitive firm insofar as
A) both face perfectly elastic demand.
B) both make an economic profit in the long run.
C) both have MR curves that lie below their demand curves.
D) both make zero economic profit in the long run.
D
Economics
You might also like to view...
Of the three big? questions, what?, how?, and for whom?, which of the following is an example of a how ?question?
A. Why do we use machines rather than migrant workers to pick? grapes? B. Why do doctors and lawyers earn high? incomes? C. Why do college football coaches earn more than? professors? D. Why? don't we produce more small cars and fewer gas? guzzlers?
Economics
The stock of wealth increases more rapidly the faster the flow of ________.
A. assets B. money C. saving D. income
Economics