In the long run, the economic profit of Hoot's Pump Chicken 'n' ...

[olgavictoria]

In the long run, the economic profit of Hoot's Pump Chicken 'n' Ribs, a monopolistic competitor,
 a. is not eliminated because competition is not perfect
  b. is not eliminated because the demand curve slopes downward
  c. is eliminated because of new firms entering the industry
  d. is eliminated because of firms leaving the industry
  e. is not eliminated because new firms cannot enter the industry

Question 2

Under representative democracy,
 a. the median voter's preferences are always satisfied
  b. citizens no longer have any influence since they do not vote on each issue
  c. representatives may reflect the preferences of the median voter
  d. less vote trading will occur than under direct voting
  e. vote trading is impossible

[Edwyer]

Answer to Question 1

C

Answer to Question 2

C

[olgavictoria]

Thanks for the timely response, appreciate it

[jordangronback]

Gracias!