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autumnnelson123 autumnnelson123
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5 years ago

Question 1.

In ________ monopolistically competitive equilibrium, there will be neither economic profits nor losses.



▸ short-run

▸ long-run

▸ both short-run and long-run

▸ neither short-run nor long-run

Question 2.

Monopolistically competitive firms ________ because in long-run equilibrium price is ________ marginal cost.



▸ prevent the efficient use of resources; less than

▸ prevent the efficient use of resources; greater than

▸ use resources efficiently; greater than

▸ use resources efficiently; equal to
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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emneviusemnevius
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5 years ago
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autumnnelson123 Author
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5 years ago
Thanks
sadiewolf
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Yesterday
this is exactly what I needed
Morgan-C
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2 hours ago
Good timing, thanks!
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