One possible reason that the country of Whatsis is trapped in poverty is
a. a lack of mineral wealth
b. an honest and functional government
c. laws and regulations to help detect fiscal fraud
d. a free press
e. a civil war
E
Economics
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If all firms in a monopolistically competitive industry faced the same demand and cost curves pictured in the above figure
A) new firms will enter the industry. B) some firms will exit the industry. C) their economic profit would be zero. D) they would each produce 60 units.
Economics
A decrease in price:
A. does not change quantity demanded if demand is elastic. B. does not cause a quantity effect when demand is perfectly inelastic. C. causes a decrease in total revenue due to the quantity effect. D. causes an increase in total revenue due to the price effect.
Economics