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Author Question: Perfect competition and monopolistic competition are similar because under both market structures, ... (Read 59 times)

newyorker26

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on: Jun 30, 2018
Perfect competition and monopolistic competition are similar because under both market structures,
 a. there are zero economic profits in the long run.
  b. production takes place at the least-cost combination.
  c. there are few firms.
  d. entry is difficult.
  e. differentiated products are produced.

Question 2

Which of the following is not an explicit cost?
 a. Salaries.
  b. Sales taxes.
  c. Utilities, such as gas and electricity.
  d. Insurance.
  e. The firm owner's time.


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bulacsom

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

e


newyorker26

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

mammy1697

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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