A monopoly industry:
a. has very significant barriers to entry
b. faces a downward sloping demand curve.
c. may earn economic profits or losses in the short run.
d. has all of the above characteristics.
d
Economics
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Monopolistic competition is similar to perfect competition in that:
A. firms advertise in both cases. B. both entail the production of differentiated products. C. output is at minimum average total cost in both. D. long-run profits tend toward zero in both.
Economics
Summarize the impacts of prices ceilings and price floors on the free market
What will be an ideal response?
Economics