The figure above shows the cost, marginal revenue, and demand curves of Golden Chow, a producer of dog food. The market for dog food is monopolistic competition. In the long run as new firms enter, Golden Chow cuts its output to 200 cans per day.
Its excess capacity is ________ cans per day. A) 0
B) between 0 and 200
C) between 201 and 400
D) more than 401
Question 2
In the long run, perfectly competitive firms make zero economic profit. This result is due mainly to which of the following assumptions?
A) few buyers and sellers
B) unrestricted entry and exit
C) firms must act as price takers
D) demand for the firm's output is perfectly elastic
Effects of Therapy for Stuttering A functional MRI scan shows regions of the superior temporal lobe
The digital image of a fetus shows a well-developed head and a comparatively smaller body. At 7 ...
This photo shows a newborn baby minutes after birth.
CT scan of the head shows a massive bleed with a midline shift.
Colossal Figure of Akhenaten
The demand for energy is met by burning coal and other fossil fuels