Author Question: A monopolistically competitive firm ________ in the long run. A) earns low but positive economic ... (Read 47 times)

ssal · **on:** Jun 29, 2018

A monopolistically competitive firm ________ in the long run.

A) earns low but positive economic profits
B) earns high economic profits
C) earns zero economic profits
D) incurs losses

Question 2

Refer to the table above. Which of the following statements is true about the marginal product of labor?

A) The marginal product initially decreases with the first few workers and then increases.
B) The marginal product initially increases with the first few workers and then decreases.
C) The marginal product decreases as more workers are hired.
D) The marginal product increases as more workers are hired.