Which
of the following conditions does NOT describe a firm in a
monopolistically competitive market? ( )
A: It
makes a product different from its competitors.
B: It
takes its price as given by market conditions.
C: It
maximizes profit both in the short run and in the long run.
D: It
has the freedom to enter or exit in the long run.
of the following conditions does NOT describe a firm in a
monopolistically competitive market? ( )
A: It
makes a product different from its competitors.
B: It
takes its price as given by market conditions.
C: It
maximizes profit both in the short run and in the long run.
D: It
has the freedom to enter or exit in the long run.
举一反三
- "Diseconomies of scale" occur in ( ) A: the long run, but not the short run. B: the short run, but not the long run. C: both the short run and the long run. D: neither the short run nor the long run.
- Which of the following is accurate? A: Monetary policy is neutral in both the short run and the long run. B: Though monetary policy is neutral in the long run, it may have effects on real variables in the short run. C: Monetary policy has profound effects on real variables in both the short run and the long run. D: Monetary policy has profound effects on real variables in the long run, but is neutral in the short run.
- In a monopolistically competitive market, product differentiation ensures that in the long run:
- Monetary policy affects employment A: only in the long run. B: only in the short run. C: in both the long run and the short run. D: in neither the long run nor the short run.
- Because economic profits are eliminated in the long run in monopolistic competition, to make an economic profit, firms continuously develop and market new products。(<br/>)