Pure economic profit in the short run

Monopolistically competitive firms: (w) profit by erecting durable barriers to entry and exit. (x) may realize pure economic profit in the short run, but not in the long run. (y) supply homogenous goods. (z) produce where marginal cost is at its minimum possible value.

How can I solve my Economics problem? Please suggest me the correct answer.

View Complete Question

Related Questions in Microeconomics

Q : Monopolistic Competition Monopolistic

Monopolistic Competition: Monopolistic competition, as the name itself entails, is a blending of monopoly and competition. The monopolistic competition refers to the

Q : Diminishing in demand problem When the

When the equilibrium in the figure shown below move from point a to point b, a reduction in demand is experienced merely in the market illustrated in: (1) Panel A. (2) Panel B. (3) Panel C. (4) Panel D.

Q : Revenue receipts treated as legally

Which kind of revenue receipts are considered as legally compulsory payment imposed on people by the government? Give illustration also. Answer: Taxes imposed on th

Q : Effects of technology advances in

The market prices for big plasma screen TVs are most probable to fall as an effect of: (1) Strikes by unionized workers in the electronics factories in Korea, Japan and China. (2) Seller expectations of Scarcities of plasma screen TVs. (3) Best Buy running competitors

Q : Total revenue in profit-maximizing

Total revenue (i.e., TR=PQ) for such profit-maximizing competitive firm equals area as: (a) 0P1gq5. (b) 0P1dq4. (c) 0P2cq3. (d) P2

Q : Dollar revenues and accounting costs

Can someone please help me in finding out the most accurate answer from the following question? The Accounting profit is the difference among: (1) Dollar revenues and accounting costs. (2) Net revenue and economic cost. (3) Accounting cost and economic cost. (4) Psych

Q : Automation in unionized industries Can

Can someone please help me in finding out the accurate answer from the following question. The higher union wages would be least probable to follow: (i) Tighter immigration policies. (ii) Obligatory retirement programs. (iii) High union initiation fees. (iv) More auto

Q : Means of monopolistic competition

Select the right answer of the question. Monopolistic competition means: 1) a market situation where competition is based entirely on product differentiation and advertising. 2) a large number of firms producing a standardized or homogeneous product. 3) many firms pro

Q : Problem Bilateral Monopoly The word

The word economists employ to explain a condition where a powerful seller confronts the powerful buyer is: (1) Reciprocal exploitation. (2) Strategic bloc management. (3) Dialectical bargaining. (4) Ancillary reciprocity. (5) Bilateral monopoly.

Q : Question on production possibilities

Refer to the given diagram. Which of the following positions relative to PP1 would be the most likely to result in a future production possibilities curve of PP3, rather than PP2 ? 1) A. 2) B. 3) C. 4) D.

Discover Q & A

Leading Solution Library

Avail More Than 1416081 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1944689
Asked

3,689

Active Tutors

1416081

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment