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Author Question: In the long run, a firm in monopolistic competition will A) make a negative economic profit, that ... (Read 120 times)

nramada

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on: Jun 29, 2018
In the long run, a firm in monopolistic competition will
 
  A) make a negative economic profit, that is, an economic loss.
  B) make zero economic profit, that is, a normal profit.
  C) make a positive economic profit.
  D) None of the above answers is necessarily correct because the amount of the profit or loss depends on the slope of the demand curve.

Question 2

The above table gives some cost data for Peter's Pickles. Peter's fixed cost is 20. The average total cost (ATC) when 5 barrels of pickles are produced is
 
  A) 22.
  B) 26.
  C) 35.
  D) There is not enough information to answer the question.


mceravolo

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

B

Answer to Question 2

B


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