Author Question: A monopolistic competitor is like a monopolist in that: a. it sells in the inelastic portion of its ... (Read 39 times)

charchew · **on:** Jun 30, 2018

A monopolistic competitor is like a monopolist in that:
a. it sells in the inelastic portion of its demand curve.
b. it earns zero economic profit in the long run.
c. the marginal revenue curve lies above the AR curve.
d. it faces a downward-sloping demand curve.

Question 2

Because of their greediness, speculators are considered bad for exchange-rate markets.
a. True
b. False
Indicate whether the statement is true or false