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Author Question: In the long-run, surviving firms in monopolistic competition earn: a. higher pure economic profits. ... (Read 59 times)

altibaby

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on: Jun 30, 2018
In the long-run, surviving firms in monopolistic competition earn:
 a. higher pure economic profits.
  b. zero pure economic profits.
  c. below-normal profits.
  d. substantial economic losses.

Question 2

Assume Px is the price of good X on the horizontal axis and Py is the price of good Y on the vertical axis. The slope of the budget line equals:
 a. Py / PxY.
  b. PyQy / Px Qx.
  c. (1  Py / Px).
  d. Px / Py.


bookworm410

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

b

Answer to Question 2

d


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