The economic analysis of monopolistic competition shows that market forces eliminate profits in the long run. However, it is possible for a firm to continue to earn economic profits if the firm
A) adopts new technologies that enable it to lower its cost of production.
B) expands its marketing budget.
C) reduces its price to expand its market.
D) expands its product offerings to appeal to a wider range of consumers.
Question 2
A firm's primary interest when it hires an additional worker is
A) whether or not the new worker gets along with the firm's existing workers.
B) the cost of hiring the additional worker.
C) how the average output of the firm will be affected by this new worker.
D) the extra revenue the firm realizes from hiring that worker.
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Economic question 5