Since a monopoly faces no competitors, it need not advertise
Indicate whether the statement is true or false
False. The monopoly benefits from advertising because advertising can shift the demand for its product rightward.
Economics
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In the long run, profits in a monopolistic competition market are zero because:
a. of government regulations. b. of collusion. c. firms are free to enter and exit the market. d. firms produce a differentiated product.
Economics
If a market is contestable, then
A. long-run economic profits are minimal due to inefficiency. B. long-run economic profits are zero. C. short-run and long-run economic profits are zero. D. positive economic profits are maximized due to the efficient production spurred by the threat of entry.
Economics