Monopolistically competitive firms can earn profits in the long run by:
A. monopolistically competitive firms only earn zero profits in the long run.
B. continually innovating to differentiate their product.
C. price discriminating.
D. further minimizing their costs.
Answer: B
You might also like to view...
The table below shows data for India's economy. Real GDP is measured in millions of rupees
Price level Real GDP supplied in the short run Real GDP demanded a 114 23,501 35,898 b 120 25,355 32,341 c 125 27,670 27,670 d 131 30,366 18,569 e 138 33,164 15,898 If potential GDP in India is ________ million rupees, India is experiencing ________. A) 26,500; an inflationary gap B) 28,500; an above-full-employment gap C) 26,500; a recessionary gap D) 30,000; a potential GDP gap
In 1999 the European unemployment rate was ________ that in the United States
A) double B) triple C) equal to D) lower compared to