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Author Question: Perfect competition and monopolistic competition are similar because under both market structures, ... (Read 79 times)

newyorker26

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  • Posts: 536
on: Jun 30, 2018
Perfect competition and monopolistic competition are similar because under both market structures,
 a. there are zero economic profits in the long run.
  b. production takes place at the least-cost combination.
  c. there are few firms.
  d. entry is difficult.
  e. differentiated products are produced.

Question 2

Which of the following is not an explicit cost?
 a. Salaries.
  b. Sales taxes.
  c. Utilities, such as gas and electricity.
  d. Insurance.
  e. The firm owner's time.


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bulacsom

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

e


newyorker26

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

amcvicar

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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