A monopolistically competitive firm that is profitable in the short run will face competition that will eventually eliminate the firm's profits in the long run. But the firm can stave off competition and continue to earn economic profits if
A) it can lobby the government to establish a price floor for its product.
B) it can find new ways to differentiate its product.
C) it can move to another country where there is less competition.
D) it can successfully sue its competitors for copyright infringement.
B
Economics
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The above figure shows the market for hamburger. Which panel shows the effect of a new excise tax on all beef products?
A) Figure A B) Figure B C) Figure C D) Figure D
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The physical and mental talents people bring to production processes comprise the resource called
A) entrepreneurship. B) natural resources. C) capital. D) labor.
Economics