Author Question: Monopolistic competition and perfect competition are different in that monopolistically competitive ... (Read 54 times)

jessicacav · **on:** Jun 30, 2018

Monopolistic competition and perfect competition are different in that monopolistically competitive firms:
a. cannot earn profits in the short run.
b. face firm demand curves that are less elastic than perfectly competitive firms.
c. face substantial barriers to entry.
d. earn economic profits in the long run.

Question 2

Which of the following is an example of an obligation associated with a right?
a. Providing adequate notice period to your tenants to vacate your house.
b. Allowing your kids to play with other children in the neighborhood.
c. Allowing neighbors to use your lawn to maintain healthy public relations.
d. Providing proper education and adequate nutrition to your children.