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Author Question: In the long run, economic profit for a monopolistically competitive firm a. is zero, due to the ... (Read 36 times)

mia

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on: Jun 30, 2018
In the long run, economic profit for a monopolistically competitive firm
 a. is zero, due to the lack of barriers to entry
  b. is zero, due to product differentiation
  c. may be positive, due to strong barriers to entry
  d. may be positive, due to product differentiation
  e. may be positive, due to advertising and product promotion

Question 2

Rational ignorance occurs when
 a. voters find the cost of understanding a specific issue is greater than the expected benefit
  b. legislation generates large benefits for a few people but imposes costs on many people
  c. the preferences of the median voter dominates public choices
  d. individuals or firms attempt to obtain favorable treatment from government officials
  e. people make public decisions based on emotion rather than a rational analysis


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johnharpe

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

A

Answer to Question 2

A


mia

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

nguyenhoanhat

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Reply 3 on: Yesterday
Wow, this really help

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