Author Question: Entry of new firms will occur in a monopolistic competitive industry until: a. marginal cost equals ... (Read 75 times)

student77 · **on:** Jun 30, 2018

Entry of new firms will occur in a monopolistic competitive industry until:
a. marginal cost equals zero.
b. marginal revenue equals zero.
c. marginal revenue equals marginal cost.
d. economic profit equals zero.
e. economic profit is negative.

Question 2

Payments to nonowners of a firm are called:
a. implicit costs.
b. accounting costs.
c. explicit costs.
d. economic costs.