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Author Question: Of the following high-income countries, which has the lowest infant mortality rate? A) Canada B) ... (Read 221 times)

moongchi

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on: Jun 29, 2018
Of the following high-income countries, which has the lowest infant mortality rate?
 
  A) Canada B) Japan
  C) the United Kingdom D) the United States

Question 2

What happens in the long run if firms in a monopolistically competitive industry are incurring economic losses? Explain.
 
  What will be an ideal response?


vkodali

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

B

Answer to Question 2

If firms in a monopolistically competitive industry are incurring economic losses, firms will exit the market. As firms exit, the demand curve facing each remaining firm begins to shift to the right. This process continues until the remaining firms are no longer incurring losses. The above is also true of perfectly competitive firms as well.


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moongchi

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Reply #2 on: Jun 29, 2018
Correct answers!


vkodali

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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