The absence of barriers to entry in monopolistic competition means that in the long run, firms
A) earn an economic profit.
B) earn zero economic profit.
C) incur an economic loss.
D) earn either an economic profit or zero economic profit.
E) earn either zero economic profit or suffer an economic profit.
B
Economics
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Economic growth is demonstrated by the LRAS as it
A) becomes more vertical. B) shifts to the left. C) becomes more horizontal. D) shifts to the right.
Economics
Refer to Scenario 2.2. What is the effect of the BBP on the equilibrium price of dental care?
A) It unambiguously increases. B) It unambiguously decreases. C) It increases only if supply shifts more than demand. D) It increases only if demand shifts more than supply.
Economics