Which of the following is true for a firm operating under perfect competition,monopolistic competition and monopoly?
A) Firms earn positive economic profits in the long run.
B) Firms earn zero economic profits in the long run.
C) Profits are maximised when marginal cost equals marginal revenue.
D) Price equals marginal cost.
E) Firms have to advertise.
Correct Answer:
Verified
Q48: Exhibit 9-2 A monopolistically competitive firm
Q49: In monopolistically competitive industry, the long-run outcome
Q51: A monopolistically competitive firm is inefficient because
Q51: Which of the following statements is true:
A)
Q52: Exhibit 9-1 A monopolistic competitive firm
Q54: A monopolistically competitive firm is a resource
Q54: Narrbegin Exhibit 9.1 A monopolistic competitive firm
Q55: An oligopoly is a market structure in
Q56: Which of the following is true in
Q58: The model of monopolistic competition is:
A) a
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