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Question 28 Perfect Competition may economic profits and may economic loses in the short run. have,...
Which market structure can earn long-run economic profits? a. Perfect competition b. Monopolistic competition c. Oligopoly...
Which market structure can earn long-run economic profits? a. Perfect competition b. Monopolistic competition c. Oligopoly d. Monopoly e. c and d only All firms produce where a. marginal benefits are greater than marginal profits b. short-run profits are less than long-run profits c. marginal revenues are greater than or equal to marginal costs d. average total costs are greater than marginal costs A perfect competitor is a __________ and can earn economic profits ____________. a. price maker, in both...
QUESTION 7 Monopolistic competitive firms in the long run earn: positive economic profits. zero pure economic...
QUESTION 7 Monopolistic competitive firms in the long run earn: positive economic profits. zero pure economic profits. negative economic profits. Positive, zero, or negative economic profits. QUESTION 8 Which of the following statements best describes firms under monopolistic competition? Profits will be positive in the long run. Price always equals average variable cost. In the long run, positive economic profit will be eliminated. Marginal revenue equals minimum average total cost in the short run. QUESTION 9 Which of the following...
. If economic profits exist in perfect competition, in the long run firms will enter because...
. If economic profits exist in perfect competition, in the long run firms will enter because of easy entry, the _______ curve will shift to the right, and _______ will _______ . A. Supply; output; increase. B. Demand; supply; fall. C. Supply; demand; also shift to the right. D. Demand; price; increase.
In the perfect competition, monopolies competition, monopoly, oligopoly, who is earning an economic profit and accounting...
In the perfect competition, monopolies competition, monopoly, oligopoly, who is earning an economic profit and accounting profit in the long run and short-run?
In perfect competition as well as in monopolistic competition, a. profit is positive in a long-run...
In perfect competition as well as in monopolistic competition, a. profit is positive in a long-run equilibrium for each firm. b.entry and exit by firms are restricted. c. there are many firms in a single market. d. marginal revenue is equal to price for each firm. ECTION 22 Monopolistic competition differs from perfect competition because in monopolistically competitive markets a. all firms can eventually earn economic profits. b. each of the sellers offers a somewhat different product. C. strategic interactions...
Discuss the short run and long run condition of both a monopoly and a perfect competition...
Discuss the short run and long run condition of both a monopoly and a perfect competition market structure .in words
12.) Which of the following is not a characteristic of perfect competition? a. All goods sold...
12.) Which of the following is not a characteristic of perfect competition? a. All goods sold are identical. b. Firms and consumers all have perfect information about the good and market. c. all consumers have identical individual demand curves d. Sellers can enter the market easily. 13.)For a perfectly competitive firm in the short run, if the following conditions are true, P = MR = MC > AC, then a. the firm is maximizing profits and is making an economic...
One thing that makes monopolistic competition similar to perfect competition is that, in the a short...
One thing that makes monopolistic competition similar to perfect competition is that, in the a short run, neither can earn positive economic profit. b long run, both are guaranteed positive economic profit. c long run, both will earn zero economic profit. d short run, both are guaranteed positive economic profit. e long run, both could earn positive economic profit, but monopolistic competitors will earn more than perfect competitors. Refer to the following graph to answer the following questions: In the...
Monopolistic competition is like perfect competition in that they both: put labels on their products. have...
Monopolistic competition is like perfect competition in that they both: put labels on their products. have numerous competitors. make zero economic profit in the short run. erect barriers to entry. It is easy to enter and exit from which of the following industrial structures? monopoly oligopoly monopolistic competition natural monopoly
Question 18 (3 points) Long-run equilibrium in perfect competition and in monopolistic competition are similar because,...
Question 18 (3 points) Long-run equilibrium in perfect competition and in monopolistic competition are similar because, in both, firms: make zero economic profit. O have excess capacity. O produce at the minimum point of the average total cost curve. Oset price equal to marginal cost.
In perfect competition as well as in monopolistic competition, a. profit is positive in a long-run equilibrium for each firm. b.entry and exit by firms are restricted. c. there are many firms in a single market. d. marginal revenue is equal to price for each firm. ECTION 22 Monopolistic competition differs from perfect competition because in monopolistically competitive markets a. all firms can eventually earn economic profits. b. each of the sellers offers a somewhat different product. C. strategic interactions...
Monopolistic competition is like perfect competition in that they both: put labels on their products. have numerous competitors. make zero economic profit in the short run. erect barriers to entry. It is easy to enter and exit from which of the following industrial structures? monopoly oligopoly monopolistic competition natural monopoly
Question 18 (3 points) Long-run equilibrium in perfect competition and in monopolistic competition are similar because, in both, firms: make zero economic profit. O have excess capacity. O produce at the minimum point of the average total cost curve. Oset price equal to marginal cost.
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