Unlike a perfectly competitive firm, a monopolistically competitive firm
a. faces a perfectly inelastic demand curve.
b. can earn positive economic profit in the short run and in the long run.
c. cannot earn positive economic profit even in the short run.
d. does not have the same marginal revenue at every output level.
d
Economics
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Refer to the table above. The opportunity cost per dollar of value added in stitching shoes by workers in Eduland is ________
A) $0.25 B) $0.50 C) $2 D) $4
Economics
Double markup problems arise when
a. upstream firms have no market power b. downstream firms have market power c. upstream and downstream products are unrelated in demand d. upstream and downstream firm's pricing decisions tend to increase the demand for the other product
Economics