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Author Question: In the short run, a monopolistically competitive firm can earn A) positive profits only. B) zero ... (Read 150 times)

bb

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on: Jun 29, 2018
In the short run, a monopolistically competitive firm can earn
 
  A) positive profits only.
  B) zero profits only.
  C) zero or positive profits only.
  D) zero, positive or negative profits.

Question 2

How does the original, simplified Keynesian model compare with modern Keynesian analysis?
 
  A) The original Keynesian model assumed price flexibility whereas the modern analysis does not.
  B) In both cases, the short-run aggregate supply curve (SRAS) is horizontal.
  C) Modern analysis shows an upward sloping SRAS to reflect some price flexibility. The original Keynesian model's SRAS is horizontal and assumes sticky prices.
  D) all of the above


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lolol

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

C


bb

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

nathang24

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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