Entry of new firms will occur in a monopolistic competitive ...

[student77]

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.

[srodz]

Answer to Question 1

d

Answer to Question 2

a

[student77]

Thanks for the timely response, appreciate it

[scikid]

Gracias!